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Got a question, hope someone can answer... What is the website for a new century Lending Tree mortgage holder to access account info? Thanks for any comment. Second question.. I started this credit repair journey mainly to be able to get a mortgage that wasn't fha. Finally I have all my scores up between 613 and 660.. |
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I would like to know the answer too. Anyone here know what is the answer to that question. I'll do some investigation and get back to you if I got an answer. You should email the people at Lending Tree as they probably can answer it..
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Kalinka,.
DH just got a mortgage thru Wells Fargo, Emerging Markets program. They really worked with us, as he only had EQ that would score. His only score was at 639. They accepted the 1 score, all we had to do was put outside sources on his mortgage report. Such as, utility bills, etc. We locked at 5.875% almost 2 months ago, then two days later they went down to 5.4%. So, it can be done... |
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I forgot to add that he also had 1 or 2 collections on there that they didn't even ask about...
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Thanks a lot everybody..
I really don't mind paying a couple or 3 points more right now. If rates remain low I could re-fi when all my derog falls off next year. If the rates go up big time. then I'l count my blessings and won't.. I'll let board know what. Happened... |
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Good LUCK!! I wish you the best... I'm sure you will get something good!..
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Ma_bear,.
What do you mean by "EQ that would score'???. Where are you guys located? I am in Calif and EQ is my best report and I am hoping I can use this Wells Fargo program to get a house.. Thanks... |
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Were the collections open or paid? Also why does adding outside sources (utilities) mean and why did you have to do it?.
Thanks!.. |
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Kalinka.
Your scores normally would allow you to get a conventional mortgage under some of the expanded qualifying that is available through some of the national lenders such as Wells Fargo's Emerging Markets Program. However, the open charge-off most likely will cause you to be declined. There are other types of mortgages available to you, though their rates will be a couple of points higher. These are your sub-prime mortgages.. Good luck to you.. Fla-tan.. |
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Does anyone know of a sub prime lender? I am beginning to look, but I am having trouble. My FICO scores are in the mid 500. I have low debt now and can put down 15 to 20 percent, and am willing to pay a higher interest rate. Any info would be appreciated...
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Maggie,.
With 15 to 20 percent down, you should be able to get financing.. While every lender is different, for most in the sub-prime market, 550 is an important cut off point in terms of rate and LTV. If your middle score is less than that, you might want to concentrate on that one to see if you can get it up some.. I wouldn't recomend a specific lender for this deal. There are just too many variables involved in a deal like that. Rather, I'd recomend a broker experianced in sub-prime loans.. Heck, if you live anywhere near Kansas City, I'd do it myself... |
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MaggieQ.
There are many lenders and options open to you when you are putting that much down. However, without knowing what causes your credit scores to be in the middle 500s a I can't really provide you with real advice as to which way to proceed.. Good luck to you. If you wish to, you can email me and I can then ask you the types of questions that will allow me to provide more specific information.. Fla-tan.. |
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Thank you all for the info. I feel alot better now. I will be contacting some sub-prime lenders soon...
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