Questions and Answers for Buying or Refinancing Your Home
Q: do I have to wait several years after a bankruptcy,
short sale or foreclosure?
A: No. We have programs to get you into a home immediately after.
Q: Do I have to have a high credit score to buy a home?
A: no. We do loans down to 530 Fico scores
Q: Can I buy a home even if I have had credit issues in the past?
Q: I have a lot of credit issues, is there any way to get free credit counseling advice to prepare for buying a home in the next six months?
A: yes! If you call us we will set up a time to meet with you and give you instructions on how to prepare for the purchase in 6 months or less! We can get you ready!
Q: I am a veteran and I want use my zero down, will the purchase cost me anything?
A: NO! we do true zero down Zero closing for VA loans.
Q: What are the costs for buying a home?
A: The only closing costs you will pay with us are title fees. We have zero lenders fees! This makes you a very competitive buyer and keeps your costs down.
Q: Do I need a lot of established credit to buy a home?
A: No. If you have limited or no trade lines, we can use cell phone, car insurance or utilities as a basis for established credit.
Q:I am self employed and I write a lot off on taxes, how can I qualify for a home purchase?
A: we have stated income programs for 12 months bank statements to qualify.
Q: what kind of credit score is needed for a VA loan?
A: we can do VA loans with a 400 or better score!
We also contribute a total of $250.00 to the
Wounded Warrior Project for every VA loan we close.
Q: I already had my credit ran by another company and they denied my application. Will it lower my score more if another lender runs my credit?
A: No. If the credit pulls are for the same reason in a 60 day period of time, it all counts as one inquiry.
Q: Should I try to go looking for a home first, and do I need a realtor?
A: let us prequalify you first, so you’re ready, and NEVER go out looking without a realtor. That is like going to court without a lawyer.
Q: Do I need a large down payment?
A: No, there are programs down to 3.5% down. By the first of the year we will have the ½% down program!!
Q: what can be used as a down payment?
A: anything in your account that has been there 60 days OR can be sourced as to where it came from. Other acceptable funds are income, gifts, bill of sale of personal items or vehicles or equity from a sale of a home.
Q; Who can give me a gift for my down payment?
A: A family member, boss or other significant a provable
Q: does my rental history help me when buying a home?
A: Yes! We will get a verification of rent and that will actually
be used as housing history and a strong trade line.
Q: Can we use a cosigner?
A: Yes. A non-occupying cosigner can be used when income is an issue to help you qualify. The program will be based on all of your incomes and credit.
Q: if I find a home, but it needs repairs or remodeling, can I roll that into the purchase?
A: Yes! We have programs that will allow you to repair or remodel and have it be rolled in and based on future value.