First time home buyer advice, credit issue.

Hello Jason,Step 1 will be to quality you as far as the other parameters are concerned - income, employment, assets, etc. If we can get to the point, then we will need to establish your credit scores.If you would like to discuss further, I can be reached at bfrench@topflitefinancial.com or 501-276-6786.Thanks,Brian

There is really no magic here. You are likely not buying a home today, but hopefully in the not too distant future. Either she, with good credit, obtains a source of income sufficient enough to qualify, or you need to spend the time and effort required to repair your credit. If she has been out of work for at least 6 months, she must be employed at least 6 months to qualify. Repairing and improving credit is something everyone can do, it just takes time and dedication to get the task done.

Hey Jason.. I always advise people to contact mortgage broker rather than a bank for this very reason. Most banks have one lending product and thats it... if you dont fit in their small box, your denied. Contact a local mortgage broker, not a bank, and apply with them.. there are many different lenders out there with guidelines and lending progrmams which can get you an approval through FHA.. WilliamAcres.com

Hi Jason,The key for you to buy will definitly be to build your credit score quickly. There are ways you can do this and be in a position to buy in about 7 months possibly less. I am going to recommend 2 sites to you which can help you to not only build your credit but to also make sure that you have the best scores possible for your situation. First check out www.homebuyeruonline.com. You can take a free class on 8 insider secrets to building your credit score fast. One of the sugestions will be to open a credit card. If you go to www.mortgageprofessordon.com on the left hand side is a link for a credit card you can open which will not pull your credit up front but will report your payment history to all 3 credit bureaus that matter. Should you have any question you may contact me at 603-543-3700 ext 1. Wishing you the best Jason!Don

Jason, There are FHA programs out there for folks like you. FHA does allow for Alternative credit as a means of proving credit worthiness. Unfortunately the big banks WON'T help you. Contact a local Mortgage Banker/Broker, rather than one of the big banks. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination, including Alternative credit programs for FHA. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, He/She is trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com