Profile picture for Brian Quigley

Brian Quigley

Confirmed Lender

Mortgage Loan Originator (13 years experience)

Purchase Loan,
Mortgage Planning,
FHA, VA, Conv, Jumbo


  • (6 Contributions,
  • 0 Best Answers,
  • 1 Helpful)

Contributions are sorted newest to oldest.

FHA Residence History ?


You will need to input 2 years of residence history. If you lived 1 place or 10 during that time, underwriting will need a full 2 year history.

580 Credit Score


580 will get you an FHA loan with 3.5% down. Anything lower then that you will be required to put down 10%Focus on paying down your credit cards to 35% of the limit.If that is not what is holding your scores down, I would look to a Mortgage Loan Originator to help review your credit report and guide you to improve your scores.

2nd Mortgage settlement?


Agreed. If you settle, or "reaffirm" the debt, they are going to be hitting you for all those late payments. Might be worth it to settle now, and take advantage of the favorable market conditions, increasing your equity position. More then likely, they sold your NOTE to a third party for pennies on the dollarm so that $20,000 debt was probably bought for $2000 or so. I would try and settle personally.

What banks support 5 or more mortgages?


I would contact a local mortgage broker in your area.5-10 financed properties is the programThis would be a wholesale product offered through the broker channel.You will probably be capped at 70% LTV