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I live in Arkansas where is the best place to find a lender that does FHA?

I really want to go and talk to someone about diffrent loans that are out there and what options I might have? But not with Bank of America which is who I bank with. From researching it I feel FHA is the best and only option I might have. 
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December 01 2010 - US
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Answers (9)

You would qualify from a debt to income standpoint, aprx 38% DTI including both mortgages and additional $250./mo in other debts. Of course if you rented the existing home that would lower your DTI to aprx 25%. Your hurdle is to get both your's and your husband's scores up over 640.
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December 02 2010
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Well Clay here it goes: I am married my fico is 620 (I have no idea if that is mid or high or low) husband's is low 580. He had no current debt everything is in my name. I own a home owe 80k worth 68K now so would have to rent that. My ratios dont seem to be that bad. 50K combined income. Car will be off in 3 months so not counting that in my debt. Current home is less than $600 month w/t&i. I have a crappy loan but 30 year fixed at least. Looking to buy home for $100K have 3.5% down. Other monthly debt is $250. I think this covers most of it...Thanks
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December 02 2010
Sammie, the 3.5% down payment is standard for FHA, here are some reasons for no response to your mtg inquiry:

Credit scores too low
Income too low
Loan Amt too low ( under $50K)
Occupancy - Can only be owner occupied

If you dont qualify now you can get feedback on this thread that may help you to qualify in the future. You should just tell it here and get some answers.   
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December 01 2010
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I did actually put my info into Zillow and nothing! I really didnt think what I put in was that bad? Maybe it was the 3.5% down it didnt like but no offers. A little discourged now. But really want to find someone to tell my story to so they can either help or laugh at me.
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December 01 2010
Just enter your info into Zillow there are several lenders in AR who can do FHA loans. 
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December 01 2010
Another option is to ask friends and co workers that closed a loan recently for a referral.  If they were happy with the relationship it is likely the loan officer is familiar with FHA guidelines. The loan limits in AK are conducive for FHA being a very common loan program.
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December 01 2010
sammie, you can google the city you are in and follow it with FHA mortgage to find a local Broker or Lender. You are better off laying out the situation on this thread which will get you multiple responses and direction. If you talk to 1 local person you will get information based on what that person knows and what their company can do, which may be limited.
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December 01 2010
You can submit your scenario through Zillow Mortgage Marketplace.
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December 01 2010
You can go to the FHA website or a local mortgage broker should be able to assist you and let you know if you have other options.
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December 01 2010
 
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