Archive for the 'Foreclosure' Category

  Everyone is wondering how to get down payment assistance. This is based upon what you qualify for, which can determine which program is right for you. There is not one program for everyone, because each person’s situation is different.   The first step would be to see which programs you qualify for. The best [...]

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No Comments downpaymentadmin on Jun 27th 2013

Credit Score:  Your credit score needs to be a minimum of 640 in order to qualify.  If you have had a previous Bankruptcy, the discharge must be at least 2 years.  A Prior Foreclosure or Short Sale needs to be at 3 years ago. Employment History: We look at your previous 2 years of employment [...]

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No Comments downpaymentadmin on Nov 6th 2012

It is actually pretty easy to build credit. Try one of the following ideas: Ask your bank or credit union about a secured credit card. You can make a deposit to your account and have a credit limit in the amount of your deposit. The bank takes little risk and you build credit slowly. Use [...]

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No Comments downpaymentadmin on Oct 30th 2012

By Elizabeth Weintraub, About.com Guide To be a buyer means to conform to the market. © Big Stock Photo   Ads Question: Are You Ready to Be a Home Buyer? A reader asks: “I would like to be a home buyer, but I don’t know if I’m ready to buy a home yet. How can [...]

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No Comments downpaymentadmin on Oct 8th 2012

by Jann Swanson What’s in a Credit Score? More than You Might Think, and It’s Constantly Changing Decrease Font Size Text Increase Font Size Sep 6 2012, 1:16PM Editor’s note:  DataQuick®, a provider of advanced real estate information solutions recently announced that Gordon Crawford, Ph.D. had joined their firm as vice president of Analytics.  MND [...]

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No Comments downpaymentadmin on Oct 5th 2012

Mortgage News Daily summed up Ellie Mae’s latest “Origination Insight Report” (covering 20% of mortgage originations and coming through a 33% sample of Ellie’s platform) showing that “the time needed to close a mortgage loan has increased by almost 25 percent over the last year, from an average of 40 days to 49 and it [...]

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No Comments downpaymentadmin on Sep 27th 2012

Program Quick Look Eligible Primary/First Mortgage Loan Products: Prime, Fixed Rate (FHA, VA, Conventional) Maximum Borrower Income: 80% of Hud Median Income (AMI) Maximum Housing Ratio: 30% Minimum Borrower Investment: Greater of 1/2 of required downpayment or $1000.00 Elgible Property: Non-Forclosed home in target area that is not a current rental property Loan Rate and [...]

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No Comments downpaymentadmin on Oct 27th 2011