You should talk to a local lender. Why is your score so low? Try a different type of loan also, a standard 30 yr Fixed you would have the most success with.
http://www.savingtoinvest.com/2009/09/2010-first-time-homebuyer-credit.htmlSorry, I must clarify and retract my statement. The federal tax credit has NOT been extended yet. The US Senate has approved a provision to be included in a larger Act that is expected to pass through the Senate and the House which will extend the closing date for claiming the credit until September. I hope this clears things up, I misunderstood the article the first time around. Happy shopping!
Yes it has been extended as of 6/17/2010.Happy Buying!Jason Van Mill[link removed by moderator]
Yes absolutely, are you purchasing a new primary home? refinancing one of your exisitng properties? I have investors with no limits on the number of properties owned and some investors with limitations on # of properties...The link above will provide Fannie Mae's announcement regarding the number of properties one can own and the requirements necessary to qualify. Most borrowers struggle to provide sufficient reserves, they can be steep if your not prepared.
I would sell my home with the condition of finding another home within a specified period of time. Closing two loans at the same time is not that difficult (providing you select a qualified buyer-that is patient). Spending money on a rental and moving multiple times isn't the best way for me, but to each their own. Find a lender with experience closing transactions like this. Ask them if they have ever had to work with another lender to close both loans simultaneously...it is all about the lock deadline :) GOOD LUCK!
Hard Head Agent, I think that Direct Mail is becoming a historical martketing tool. The newer generations have computers attached at their hips. You have to find a way in!