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home insurance san diego

home insurance san diego

Questions about a new home mortgage?

Hello! My husband and I want to buy our first home in the next year. I have a question concerning our credit. Each of our FICO score is between 610-620. We have never declared bankruptcy, had taken a car or even miss a payment by credit card. Our score is low because a ton of medical bills, we slowly when fruit Our son became very ill before our new insurance kicked in. The bills are, unfortunately, on our credit. My question is, with the tightening the current credit would we be able to qualify? We live in San Diego, so housing is a scandal which means that we will be able to reach about 5% down (the price of houses approx. $ 700,000). I would very much appreciate input from people who have received loans in the last two months, and also people in the banking sector. Thank you very much!

Well WFR is incorrect. As far as I know for a jumbo loan amount like that there is no Funding available to 100% especially in most of CA in time regardless of the amount of the loan, unless you go to a VA loan or assumption Calhfa first program property of time. Now, with a sale price of $ 700,000 FHA is definitely out of question because they do not go that high. But there are good News on the Horizon. Possibly within the next month limit line can be mounted from 600,000 to 700,000. When and if that happens, it is open many doors for you for the funding and 5% down would work. So kind of hold on and see what happens. It could make a huge difference in your payment. Now, with only 5%, you must pay the AMT. You want to make sure that your scores in the middle are not less than 620. If so you will PMI significantly higher. A consultant ready to pull your credit and review to see if there is something you can work now to increase scores. If your doctor bills are older and you pay now it could lower your score. If you have high balances on your cards credit, it could affect your score too. You need someone who understands credit reports Sell your review to help you go in the right direction. I hope this helps.