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Additional Details
but i mean like where can I find it on my credit, just to save me some embarrasement??... |
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Additional Details
I dont have any credit, ... |
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cee yay | I have 571,592 and 650. I make 3$30,000 on job and 50,000 in my business. What home loan would i qualify for.? |
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know1
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first off, you would go off of your mid score, also known as FICO, which would be 592. Now, you'd have to let the bank, mortgage broker, or other pull the credit to see what you DTI (debt to income) ratio is. This lets the lender know if you'll be good on making payments. Now, you say you make $30,000 "on your job". Is this W-2 work or 1099 -meaning are you an employee on payroll or a contracted worker. Have you been there for at least two years? The 50K come from your business, so do you have a business license or is this just on the side work? How long have you been in business? Is there a CPA (certified public accountant) that can vouch for it?
All of these questions are rhetorical, of course, but something to think about before someone spouts out an answer without knowing concrete facts. |
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stephen l
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Looks like 95% LTV or needing 5% downpayment with a sub -620 midscore. I recommend Smart Choice Mortgage. They do business in most states and are your best opportunity for someone to say yes. ADDITIONALLY, IF YOUR CREDIT IS SUSPECT, THEY SOMETIMES FRONT THE MONEY TO GET YOU INTO A CREDIT RESTORATION PROGRAM SO THAT YOU CAN QUALIFY FOR A LOAN. Check out the free evaluation form at the source website and a Smart Choice loan officer will contact you within 24 hours. Good luck. |
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arnold ziffel
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Go to the North Pole and get yourself a dang igloo |
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Blog
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None? Confused.. |
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RS
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I don't know why you need a loan if you make that much money. |
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healthspot_2000
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592, you would qualify for 95% or you can qualify for 100% (assuming you don't have a lot of collections)
The amount of home loan you qualify for depends on how much debt you have. |
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user6454353
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"what home loan...", do you mean HOW MUCH would you qualify for? Or, do you mean what % interest rate?
Being that your median FICO is 592 you would not get the best rate obviously. 100% financing is pretty much gone away for anything sub-prime.
If you can prove your income from your business and with a
good down payment you should realistically be able to get at least a 6.5 or possibly a point or so higher interest rate.
If you have a lot of recent collections or bad debt look for that rate to be higher.
Debt to income ratio will be a major factor. Example: hey, I make 80k, my ferrari payment is $1000, and i rent a condo in malibu for $5000 and ....etc, etc. See what I mean? |
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Dream? I do.
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the one where you give me all your money.. |
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