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Mortgage with 605 FICO

Discussion in 'Credit Talk' started by PeteB, Aug 30, 2003.

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  1. Sep 4, 2003 #21
    PeteB

    PeteB Member

    One credit card is maxed at 6k. The other has 300 on a 1k limit.
     
  2. Sep 4, 2003 #22
    rhondak

    rhondak Well-Known Member

    THANKS! Email is on it's way!
     
  3. Sep 11, 2003 #23
    PeteB

    PeteB Member

    Are there mortgage companies out there that wil do a low rate at this score? After sale of house and land, should net 50-60k for downpayment on new house. Any thoughts?
     
  4. Sep 11, 2003 #24
    BrettS

    BrettS Well-Known Member

    _
     
  5. Sep 11, 2003 #25
    snakeman

    snakeman Well-Known Member

    I got approved today for a mortgage loan. The LTV is 61%. 30 yr mtg. 8.25% Seller second mtg for 50k.
    It's a "family home" she inherited and she owes nothing on it. She also thinks that she may have an advantage breaking up the 130,000 she is asking into two closings over two years.

    Her thought is that she may have to pay less "Capital gains tax" if she sells for 80k now and waits 2 years for her other 50k. Any thoughts?

    SnakeMan
     
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