What can I do to get more (or better) quotes for my loan request ZR-VMGCNBP

  • November 30 2010 - Yawkey
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Answers (3)

Its your credit score which is preventing you from receiving quotes. I would raise your estimated credit score and then when you talk to lenders tell them it might be lower and see just how they can go on the score and still do the loan. 
  • December 01 2010
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You have 2 problems, $3000 is not enough down payment, you will need at least $3600. 2nd issue is your debt ratio, the house payment will be about 36% of your gross income and you list having 1200/month in other debt. That equals a total debt ratio of aprx 96%. The "other debt" should include other monthly payments ( do not include current rent payment), not the total due so if your other monthly payments like car, credit card, student loans, etc only total aprx $250 or less, then you will probably qualify if you can put down $3600. If so, change your inquiry to the higher down payment and change the "other debts" to reflect the actual.   
  • November 30 2010
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Sorry, I can't see those details.  Basically, what's your concern with the quotes? (Rate too high, closing costs?)

I might be able to at least point you the right direction.
  • November 30 2010
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