a mtg broker I talked to this weekend preapproved over the phone for 230k. thats what we were seeking, so he did it for 230k, he said we could go higher based on our income and ratios. He told us as long as credit scored were no lower than 640 that we would be fine. anyone else hear this 640 range? I thought that seemed low. wife's fico is over 700 and I was worried, but he said jsut keep it over 640. we were talking about 0 to 3% dn loans too. was good news to me.
Re: preapproval for $230,000 on pho We are going to be doing a pre-approval pretty soon. May I ask what are your scores? and your wifes? Do you need to document your income or you need to document your income only when going over 230'000? Thanks!
Re: preapproval for $230,000 on pho her eq fico is 705, not sure about her other 2. I just got all her negs removed. her exp was around 680. i dont have my scores yet, but i got all my derogs cleared from all but one left on equifax. He basically told us with our income, and debt ratio that we would have no troubles. I asked him a ballpark score to keep and said just keep it above 640.
Re: preapproval for $230,000 on pho My wifes scores are 700-715 on all 3 CRA's. Mine are above I still have lates on paid/closed account from 99 and 2000 but I fired up a Nutcase (thanks PsychDoc) and am waiting for an answer. My wife is going to graduate from University in 3 weeks and already have 5 jobs to choose from. I own a small business and will be incorporating in late December. We shouldn't have any problems getting up to $200'000 should we? BTW, Congratulations!!
