Zillow Advice: Approval Process - Do we have a chance? http://www.zillow.com/advice-thread/Do-we-have-a-chance/510993/ Zillow Advice | Zillow Real Estate Hi.&nbsp; I'll try to answer ... http://www.zillow.com/advice-thread/Do-we-have-a-chance/510993/ Hi.&nbsp; I'll try to answer your questions in order.<br/><br/>Q: What are my chances of getting a pre-approval through the mortgage company I worked with before? <br/><br/>A: The biggest question for the mortgage company in PA is if they lend in WA.&nbsp; They might not.<br/><br/>Q: Does past history make a difference as a repeat customer?<br/><br/>A:&nbsp; It can.&nbsp; I work for a Credit Union Service Organization, and our customers are Credit Unions and their&nbsp;members.&nbsp; Past history is a factor in our lending decisions.<br/><br/>Q: Is working for a family member legitimate income?<br/><br/>A: Yes.&nbsp; They must issue W2 forms.&nbsp; The underwriter will ask for 2 years of complete tax returns.<br/><br/>Q: Will they waste their time for $50K?<br/><br/>A: A credit union or a community bank will most likely be the most helpful to you.&nbsp; That's just my opinion.&nbsp; Interview a few loan officers to get a sense of the kind of service to expect.<br/><br/>Q:&nbsp; How long a mortgage term can I expect at 55?<br/><br/>A:&nbsp; You can't be discriminated against because of your age.&nbsp; A longer term will mean a lower payment, which will help your debt to income ratio.<br/><br/>Hope this helps.<br/><br/><br/> Fri, 13 Sep 2013 16:52:00 GMT http://www.zillow.com/advice-thread/Do-we-have-a-chance/510993/ 2013-09-13T16:52:00Z Hello,As long as you are ... http://www.zillow.com/advice-thread/Do-we-have-a-chance/510993/ Hello,<br/><br/>As long as you are a W-2 employee the income piece should be fine. I would think your credit scores are OK as well. This should be doable. If you want to go further just click on my profile and send me an email or call and we can go deeper.<br/><br/>HomeStreet Bank is a local Washington direct Fannie Mae lender. We will always service your loan as well.<br/><br/>Looking forward to helping you in any way I can,<br/><br/>Doug Thu, 12 Sep 2013 19:38:00 GMT http://www.zillow.com/advice-thread/Do-we-have-a-chance/510993/ 2013-09-12T19:38:00Z The biggest thing your payment ... http://www.zillow.com/advice-thread/Do-we-have-a-chance/510993/ <p>The biggest thing your payment history could affect is your credit score. And no your past history shouldn't make a difference in how your treated now. As long as your family member is supplying you with a w2 income and paystubs you will be fine. Mortgage term... theoretically you could do 40 years if you wanted.<br/><br/>I am a lender in WA, just up hwy 167 in Tukwila, contact me through my profile if you would like some help with the pre-approval process.</p> Thu, 12 Sep 2013 16:05:00 GMT http://www.zillow.com/advice-thread/Do-we-have-a-chance/510993/ 2013-09-12T16:05:00Z In my opinion;I don't see ... http://www.zillow.com/advice-thread/Do-we-have-a-chance/510993/ In my opinion;<br/>I don't see any problems with what you have said, I would think that you credit isn't that bad, seems you have done the best you could.<br/>Repeated business used to work fine at our local community banks...till most were bought out by others that are not community connected and base things of off of reg. loan requirements.<br/>credit score, income, employment history and so on.<br/><br/>You need to check with a local lender to see where you stand, sure they'll e happy to see you.<br/><br/>Hey 55 don't mean life is over ... you will get a reg. term loans like everyone else... :-)<br/><br/>Maybe you'll get some better answers on here a little later, its coffee time you know.<br/>-Joseph- Thu, 12 Sep 2013 11:01:00 GMT http://www.zillow.com/advice-thread/Do-we-have-a-chance/510993/ 2013-09-12T11:01:00Z