Zillow Advice: Mortgage - I have bad credit due to medical bills, but am collecting $45,084 annually from the VA and SSDI. http://www.zillow.com/advice-thread/I-have-bad-credit-due-to-medical-bills-but-am-collecting-45-084-annually-from-the-VA-and-SSDI/511957/ Zillow Advice | Zillow Real Estate It was a 550 in January and ... http://www.zillow.com/advice-thread/I-have-bad-credit-due-to-medical-bills-but-am-collecting-45-084-annually-from-the-VA-and-SSDI/511957/ It was a 550 in January and a 547 about two months ago, but since I applied for a couple of mortgages and had some incorrect information post to my account as of yesterday USAA told me it was 475. They could have told me they had a minimum credit score of 620 for any loan before I went through a 30 minute loan application process over the phone just to have my score drop from the hard credit inquiry. Besides the intelligence or experience of the people who work answering phones for them, I only have good things to say about the bank and will probably use them to refinance my loan in two years or so. Thu, 19 Sep 2013 16:22:00 GMT http://www.zillow.com/advice-thread/I-have-bad-credit-due-to-medical-bills-but-am-collecting-45-084-annually-from-the-VA-and-SSDI/511957/ 2013-09-19T16:22:00Z What type of shape is your ... http://www.zillow.com/advice-thread/I-have-bad-credit-due-to-medical-bills-but-am-collecting-45-084-annually-from-the-VA-and-SSDI/511957/ What type of shape is your credit in? Do you have an idea on the score? Thu, 19 Sep 2013 15:57:00 GMT http://www.zillow.com/advice-thread/I-have-bad-credit-due-to-medical-bills-but-am-collecting-45-084-annually-from-the-VA-and-SSDI/511957/ 2013-09-19T15:57:00Z I just got pre-approved for ... http://www.zillow.com/advice-thread/I-have-bad-credit-due-to-medical-bills-but-am-collecting-45-084-annually-from-the-VA-and-SSDI/511957/ I just got pre-approved for a hard money note. It's a balloon mortgage, with the full term due in 3-5 years, which gives me plenty of time to fix my credit and get my medical bills and errors off of my credit report. It's a 20 year amortization at 12-15% interest with 25-30% down. The lender wants to look at the property first before he tells me the exact terms, but the property already brings in $1050 a month rental income and is a triplex. If I move there and pay what I pay for rent as an extra payment and use my $42,000 disability backpay towards the principle it should be paid off very quickly. Thu, 19 Sep 2013 15:47:00 GMT http://www.zillow.com/advice-thread/I-have-bad-credit-due-to-medical-bills-but-am-collecting-45-084-annually-from-the-VA-and-SSDI/511957/ 2013-09-19T15:47:00Z Lots of factors go into quoting ... http://www.zillow.com/advice-thread/I-have-bad-credit-due-to-medical-bills-but-am-collecting-45-084-annually-from-the-VA-and-SSDI/511957/ Lots of factors go into quoting a REAL interest rate for someone. What County, State, loan amount, type of property, credit scores etc. The best thing to do is contract a couple of lenders and give them more accurate perimeters so they can better quote a rate. Also, make sure you find out what their lender fees are, and lastly make sure you select an experienced Loan Officer. Seems we have a bunch of Rookies out there lately. <br/><br/>Best of Luck! Thu, 19 Sep 2013 14:35:00 GMT http://www.zillow.com/advice-thread/I-have-bad-credit-due-to-medical-bills-but-am-collecting-45-084-annually-from-the-VA-and-SSDI/511957/ 2013-09-19T14:35:00Z The best advice and direction ... http://www.zillow.com/advice-thread/I-have-bad-credit-due-to-medical-bills-but-am-collecting-45-084-annually-from-the-VA-and-SSDI/511957/ The best advice and direction you can get is from a local lender who will review your situation and the property you wish to purchase. Thu, 19 Sep 2013 13:27:00 GMT http://www.zillow.com/advice-thread/I-have-bad-credit-due-to-medical-bills-but-am-collecting-45-084-annually-from-the-VA-and-SSDI/511957/ 2013-09-19T13:27:00Z