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looking to buy a home with no down payment but my credit score is to low and my income is to high. is there anyway that i can be helped.

by brandy bryant from atwood, Tennessee. Aug 17th 2010 Reply


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Aug 17th 2010
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Jake Belcher (JakeBelcher)
#18 ranked lender in Kansas - 87 contributions

You more than likely need to get your score to 620 and have at least 3.5% down to do an FHA loan. The only 100% money out there is USDA and if you make to much it throws you out of the program.

Aug 17th 2010
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Allen Lundberg (ColoLender)
#19 ranked lender in Colorado - 24 contributions

How low is your score? I agree with the previous answer that you will need a 620 mid FICO. Have you seen your credit report? I work with a couple credit repair companies. It sounds like you have looked into the local down payment programs. CHFA has fairly high income limits to use their program, so it could be an option. Feel free to give me a call and I can offer my advice. Allen 720-203-9871

Aug 17th 2010
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Brett Pehrson (brettpehrson)
#19 ranked lender in Utah - 228 contributions

I would agree that you probably need to be looking at FHA, then, with the 3.5% down. The only other way you're not going to have income restrictions is if you've served in the military and qualify for a VA loan. You should probably look into just working on your credit as you save up a little for a down payment.

Aug 17th 2010
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Ron Wohlfarth (RonWohlfarth)
#34 ranked lender in New Jersey - 65 contributions

Good Morning Brandy...VA Mortgage - Rural Home Mortgage = 100% financing...FHA Mortgage = 96.% financing...Contact us when you have a chance...Thanks Ron---e/m Money@RonWohlfarth.com---web www.WoodburyMoney.com

Aug 18th 2010
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