Zillow Advice RSS: Question-Discussion,Credit Scores,CA http://www.zillow.com/advice/CA/mortgage-credit-scores/question-discussion/ Zillow Advice search results | Zillow Real Estate Can I qualify for FHA loan even my wife credit score is not good? http://www.zillow.com/advice-thread/Can-I-qualify-for-FHA-loan-even-my-wife-credit-score-is-not-good/383502/ I am first time home buyer and plan to buy a house with my income alone. But my realtor told me that my wife bad credit will effect to my FHA loan because we applied for joint tax return. It is true?<br \><br \>16 replies Sat, 29 Jan 2011 01:56:00 GMT http://www.zillow.com/advice-thread/Can-I-qualify-for-FHA-loan-even-my-wife-credit-score-is-not-good/383502/ 2011-01-29T01:56:00Z Can I qualify for a home mortgage without having a credit history? http://www.zillow.com/advice-thread/Can-I-qualify-for-a-home-mortgage-without-having-a-credit-history/493044/ I can put down 35% on a $125k home. I have been employed at the same company and lived at the same address for 23 yrs. I just started on building a credit history which I know will take time. If I have any chance of qualifying how would I go about finding a lender, finding out that being debt free without credit history is worse than having bad credit.<br \><br \>6 replies Sun, 19 May 2013 21:25:00 GMT http://www.zillow.com/advice-thread/Can-I-qualify-for-a-home-mortgage-without-having-a-credit-history/493044/ 2013-05-19T21:25:00Z When are the penalties applied on a foreclosed home included in a bankruptcy? http://www.zillow.com/advice-thread/When-are-the-penalties-applied-on-a-foreclosed-home-included-in-a-bankruptcy/557708/ Our home was included in a bankruptcy back in 2009.&nbsp; We had been attempting to negotiate a mortgage modification with our bank, but that has been unsuccessful.&nbsp; We are attempting to sell our home, but it doesn't look like we will be able to sell high enough for paying off both the mortgage and the agents because their fees are so high.&nbsp; If we allow it to go into foreclosure, at what point does the penalty begin, the close of the bankruptcy, or the sale date of the foreclosing?<br \><br \>6 replies Wed, 03 Sep 2014 03:01:00 GMT http://www.zillow.com/advice-thread/When-are-the-penalties-applied-on-a-foreclosed-home-included-in-a-bankruptcy/557708/ 2014-09-03T03:01:00Z I have a credit score of 530, is there any ways to get a loan to buy a manufactured home and lot? http://www.zillow.com/advice-thread/I-have-a-credit-score-of-530-is-there-any-ways-to-get-a-loan-to-buy-a-manufactured-home-and-lot/556348/ 1 reply Mon, 25 Aug 2014 06:57:00 GMT http://www.zillow.com/advice-thread/I-have-a-credit-score-of-530-is-there-any-ways-to-get-a-loan-to-buy-a-manufactured-home-and-lot/556348/ 2014-08-25T06:57:00Z whats the lowest fico score can you have to buy a house , if we make about 130k http://www.zillow.com/advice-thread/whats-the-lowest-fico-score-can-you-have-to-buy-a-house-if-we-make-about-130k/386419/ 41 replies Sun, 13 Feb 2011 12:27:00 GMT http://www.zillow.com/advice-thread/whats-the-lowest-fico-score-can-you-have-to-buy-a-house-if-we-make-about-130k/386419/ 2011-02-13T12:27:00Z How long you must wait to purchase or refinance a property after a short sale or foreclosure? http://www.zillow.com/advice-thread/How-long-you-must-wait-to-purchase-or-refinance-a-property-after-a-short-sale-or-foreclosure/518004/ <p class="MsoNormal">Call half a dozen lenders and you will get a variety of answers regarding how long you must wait to purchase or refinance a property after a derogatory event like a short sale or foreclosure shows up on your credit report. A good starting point to figuring out the answer is to look at the Fannie Mae (FNMA) and FHA guidelines on the subject.&nbsp;</p><br \><br \>16 replies Tue, 05 Nov 2013 16:46:00 GMT http://www.zillow.com/advice-thread/How-long-you-must-wait-to-purchase-or-refinance-a-property-after-a-short-sale-or-foreclosure/518004/ 2013-11-05T16:46:00Z Improving credit http://www.zillow.com/advice-thread/Improving-credit/488468/ I was wondering if there are any lenders or anybody with credit experience who could help me by looking at my credit reports and point me in the right direction. I would&nbsp;like&nbsp;to buy a home within the next six months to a year. My median score is around 575. &nbsp;Any help would be appreciated. Thanks.<br \><br \>6 replies Thu, 18 Apr 2013 00:52:00 GMT http://www.zillow.com/advice-thread/Improving-credit/488468/ 2013-04-18T00:52:00Z Bad Credit http://www.zillow.com/advice-thread/Bad-Credit/537085/ Hello,&nbsp;<br/>I am looking for the best advise possible, I would love to purchase a home. &nbsp;I have a great job and make decent wages. &nbsp;My husband has no credit, I have bad credit, student loans and I was a victim of identity theft. &nbsp;Is there any hope for a loan so we may purchase a home?&nbsp;<br \><br \>5 replies Sat, 19 Apr 2014 01:32:00 GMT http://www.zillow.com/advice-thread/Bad-Credit/537085/ 2014-04-19T01:32:00Z When will a foreclosure affect my credit score? http://www.zillow.com/advice-thread/When-will-a-foreclosure-affect-my-credit-score/422422/ We stopped paying our <a href="http://www.zillow.com/mortgage-rates/">mortgage</a> Dec of 2010 and the property will finally be auctioned off in less than a week. We tried to work with them and do a short sale and all the other stuff and they told us no on everything basically forcing us to foreclose. I just did a credit check for me and my husband and my score was 773 and his was 672 and it didn't show any debt from the home we foreclosed on. I have a few questions: When is my home technically in <a href="http://www.zillow.com/homes/for_sale/fore_lt/">foreclosure</a> (we received papers saying it was)? When does the foreclosure affect my/our credit (since it doesn't look like it has yet)? What kind of&nbsp;repercussions&nbsp;will I face come tax time? Thanks! Oh yeah and we weren't married when he bought the house so my name wasn't on any of the <a href="http://www.zillow.com/mortgage-rates/">loan</a> doc's, will it still affect my score now that we are married?<br \><br \>6 replies Thu, 10 Nov 2011 19:28:00 GMT http://www.zillow.com/advice-thread/When-will-a-foreclosure-affect-my-credit-score/422422/ 2011-11-10T19:28:00Z Couple: No credit history + Good credit, can we get a mortgate? http://www.zillow.com/advice-thread/Couple-No-credit-history-Good-credit-can-we-get-a-mortgate/534255/ I find myself in the following situation:<br/>I've immigrated to the US only 1 year ago and in that time I haven't had any debt. When I arrived the only credit card I could get was as a co-signer on my wife's credit card. Which means I build credit but only excruciatingly slow. I got my credit rating checked recently and my file is still too thin go get a credit rating.<br/>I do on the other hand have a pretty high income.<br/><br/>My wife is the exact opposite: no income but she has an A credit rating.<br/><br/>So my question is, is it at all possible for for us as a married couple to get a (good) mortgage? My income with her credit rating?<br \><br \>10 replies Sat, 29 Mar 2014 03:09:00 GMT http://www.zillow.com/advice-thread/Couple-No-credit-history-Good-credit-can-we-get-a-mortgate/534255/ 2014-03-29T03:09:00Z $1.3M mortgage with less than 20% down? http://www.zillow.com/advice-thread/1-3M-mortgage-with-less-than-20-down/486626/ My situation is such that we have about 200K in cash for down payment now and will have another 100K every six months or so (November next). Rather than waiting until November and risk prices and rates continuing to rise I'm hoping to do something now. I see people suggestion 80 /10/ 10 for smaller mortgages, any options for me?<br/><br/>Thanks!<br \><br \>11 replies Sat, 06 Apr 2013 13:43:00 GMT http://www.zillow.com/advice-thread/1-3M-mortgage-with-less-than-20-down/486626/ 2013-04-06T13:43:00Z Obtaining a Mortgage 1 year after bankruptcy discharge...advice please :) http://www.zillow.com/advice-thread/Obtaining-a-Mortgage-1-year-after-bankruptcy-discharge-advice-please/418261/ Hi,<br/>My husband and I filed bankruptcy (Ch 7) and it was discharged last October.&nbsp; Our credit since then is good.&nbsp; My credit score has actually gone up by 100 pts (still Fair at 638) and I'm not sure about his (didn't pull his).&nbsp; The only negatives we may have on our credit now are two hospital bills (hit with two ER visits one month after our discharge and we didn't have good insurance-deductibles too high at the time) that we are trying to pay.&nbsp; Other than that, I was able to obtain a small credit card to start re-building (limit of only $750).&nbsp; <br/><br/>What I'm wondering is, what kind of mortgage is it possible to get in our situation with our credit?&nbsp; We rent right now...at abotu $1000 a month (and I hear the rent is going up).&nbsp; I found a halfplex for only $114,000 in a great neighborhood (3 bed/2 bath) that I could see us living in for at least 5 years (and it's right across the street from my daughters school and has a big yard).&nbsp; What type of down payment is required these days?&nbsp; I believe if we were able to obtain a loan with even a lower down payment (say 5% but I hear it's hard to find a lender that will take less than 10%) and pay P&amp;I, for a 30 yr fixed at 7%, the mortgage amount would be around $850/month...even lower than we are paying in rent.&nbsp; <br/><br/>What I'm wondering is...is it possible with 5% down payment....and with our credit....and if so, where do I go to try to obtain a pre-approval?&nbsp; <br/><br/>Researching...thank you!<br/>Angel in Carmichael, CA<br \><br \>9 replies Thu, 06 Oct 2011 03:26:00 GMT http://www.zillow.com/advice-thread/Obtaining-a-Mortgage-1-year-after-bankruptcy-discharge-advice-please/418261/ 2011-10-06T03:26:00Z short sale mortgage 100% financing...Possible? http://www.zillow.com/advice-thread/short-sale-mortgage-100-financing-Possible/531765/ I had a short sale on my condo almost 2 years ago to the day. The reason I had a short sale was because I had a surprise child support order which at the time took a huge chunk from my Salary.&nbsp;<br/><br/>Here is my situation:<br/><br/>680 credit score<br/>short sale 2 years ago<br/>almost 150K base salary<br/><br/>what are my best options for buying a home if I need 100% financing? Also I am a Navy Federal Credit Union member but i hear horror stories from using their mortgage dept.&nbsp;<br \><br \>8 replies Mon, 10 Mar 2014 22:13:00 GMT http://www.zillow.com/advice-thread/short-sale-mortgage-100-financing-Possible/531765/ 2014-03-10T22:13:00Z I had foreclosure in 2009 and would like to work on buying a home again. http://www.zillow.com/advice-thread/I-had-foreclosure-in-2009-and-would-like-to-work-on-buying-a-home-again/514000/ I need to know what I need to work on&nbsp; with my credit in order to get a mortgage loan.&nbsp; I would like to purchase a home in the next 6-8 months.&nbsp; I just don't know where to start or who to talk to work on my credit.<br \><br \>4 replies Thu, 03 Oct 2013 18:24:00 GMT http://www.zillow.com/advice-thread/I-had-foreclosure-in-2009-and-would-like-to-work-on-buying-a-home-again/514000/ 2013-10-03T18:24:00Z Can I get a home loan with a low 600's score? http://www.zillow.com/advice-thread/Can-I-get-a-home-loan-with-a-low-600%27s-score/523543/ I am living in Sacramento, CA and want to purchase a home instead of renting. It just seems cheaper in the long run and more beneficial to me. I want to know if it is possible to do this at this time. I had spoken to a woman that does loans but she said that my score is much too low. I have heard of others getting an FHA loan with a lower score but don't know how to find someone that can do it. Can anyone tell me who I can talk to about making this real?<br \><br \>9 replies Mon, 06 Jan 2014 23:15:00 GMT http://www.zillow.com/advice-thread/Can-I-get-a-home-loan-with-a-low-600%27s-score/523543/ 2014-01-06T23:15:00Z What can I do to get more (or better) quotes for my loan request ZR-NWPPSWJ? http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-NWPPSWJ/521084/ Specifically, how can I increase my credit score?&nbsp; I don't currently have any revolving credit accounts.&nbsp; Should I open one?&nbsp; Or more than one?<br \><br \>4 replies Sat, 07 Dec 2013 22:08:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-NWPPSWJ/521084/ 2013-12-07T22:08:00Z Limited credit history and mortgage loans http://www.zillow.com/advice-thread/Limited-credit-history-and-mortgage-loans/483673/ Hello,<br/><br/>I would like to know if anyone has any suggestions or leads on lenders who can work with borrowers in my situation. I have limited credit history as below:<br/><br/>1 credit score of 705 (Experian)<br/>1 trade line (credit card)<br/>7 months&nbsp;in a full-time&nbsp;job (I`m new to the USA but I am a legal resident)<br/><br/>I would also like to know if I could be put on a loan as a co-borrower, if I am not able to qualify by myself (the first lender&nbsp;I spoke with&nbsp;hesitated at even suggesting that, given my limited history). <br/><br/>Thanks!<br/><br/>Jackie<br \><br \>5 replies Tue, 19 Mar 2013 16:00:00 GMT http://www.zillow.com/advice-thread/Limited-credit-history-and-mortgage-loans/483673/ 2013-03-19T16:00:00Z Mortgage for shorter Credit History but with good salaried job http://www.zillow.com/advice-thread/Mortgage-for-shorter-Credit-History-but-with-good-salaried-job/520721/ As mentioned, I have a very short credit history, oldest account is only near to 2 years now. But, there is nothing negative on my credit report other than few enquiries from last year. <br/><br/>I have had a salaried job in Bakersfield where i will be completing 2 years in this february with the Same employer. I have also received periodic raises or increments in the salary.&nbsp;<br/><br/>My question is, will I be eligible for a mortgage to buy a house? I have been renting until now, and this would be my first home.&nbsp;<br/><br \><br \>3 replies Tue, 03 Dec 2013 19:53:00 GMT http://www.zillow.com/advice-thread/Mortgage-for-shorter-Credit-History-but-with-good-salaried-job/520721/ 2013-12-03T19:53:00Z Credit score required for conventional loan with 5% down? http://www.zillow.com/advice-thread/Credit-score-required-for-conventional-loan-with-5-down/459336/ Hello! What creidt score is necessary to qualify for a conventional mortgage with 5% down? My husband and I have credit scores approximately 680 range and are looking to buy a house around 350k in the San Francisco bay area. We have been preapproved with FHA for a bit over 400k, but most sellers won't even consider FHA these days. Getting to 20% down isn't really goign to work for us, but we could certainly do 5%. Is this even a remote possibility with our credit score? Thanks in advance!<br \><br \>4 replies Mon, 10 Sep 2012 16:12:00 GMT http://www.zillow.com/advice-thread/Credit-score-required-for-conventional-loan-with-5-down/459336/ 2012-09-10T16:12:00Z How to use rapid rescore services as a consumer and not through a mortgage broker or lender? http://www.zillow.com/advice-thread/How-to-use-rapid-rescore-services-as-a-consumer-and-not-through-a-mortgage-broker-or-lender/209226/ Need to bump <a href="http://www.zillow.com/mortgage-glossary/FICO/">FICO</a> scores from 698 to 740 by paying at least 70% of credit cards open balances.<br \><br \>17 replies Wed, 11 Mar 2009 15:58:00 GMT http://www.zillow.com/advice-thread/How-to-use-rapid-rescore-services-as-a-consumer-and-not-through-a-mortgage-broker-or-lender/209226/ 2009-03-11T15:58:00Z