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yeah...never walk into a place looking for credit and have the lender see something before you do. Pulling your own credit once or twice doesn't hurt your score. You can even look up your report from all three bureaus for free! You AND your husband should do it regardless of if he is going to be on the mortgage. You never know what kind of errors might be on there.
It sounds like you your best bet would be to try to do it wi
Why not? The lender will be able to analyze it best.
How about this... save at least $20,000 or 10% to put down in addition to having 6 months of expenses saved up. Then think about buying a house, otherwise you are going to wind up on Foreclosure row just like the hundreds of thousands right now.
[quote=k374;2798746]How about this... save at least $20,000 or 10% to put down in addition to having 6 months of expenses saved up. Then think about buying a house, otherwise you are going to wind up on Foreclosure row just like the hundreds of thousands right now.[/QU
Why would I end up foreclosed? I am a little confused about this. I am not saying I don't have downpayment- I would rather spend the money elsewhere- have more money in my hand moreorless. My husband and I both have stable jobs that despite not putting down a down payment, we would be able to afford the monthly payments...
How about this... save at least $20,000 or 10% to put down in addition to having 6 months of expenses saved up. Then think about buying a house, otherwise you are going to wind up on Foreclosure row just like the hundreds of thousands right now.[/QU
Why would I end up foreclosed? I am a little confused about this. I am not saying I don't have downpayment- I would rather spend the money elsewhere- have more money in my hand moreorless. My husband and I both have stable jobs that despite not putting down a down payment, we would be able to afford the monthly payments...
If you can make your payments, you won't end up in forclosure. We didn't put any money down for the same reason you stated. We wanted to use the money towards other things for the home. We got an excellent loan at 5.8%. Our house payments are cheaper then what we once paid for rent. I don't buy into the "you must put 20% down" stuff.
We were pre-approved 95% fin for $380K at 5.875% thru our CU
Another program we pre-approved 100% for $417K at 6.15% + 1.75 orig pts.
through an independent broker.
Neither are direct lenders.
That was with $136K income, and mid-scores of 640.
We got out home no money down 30 year fixed at 6.125%. It was an FHA loan what we did was asked the seller to pay closing cost in return we put an offer in of their asking price plus closing cost so that they would lose nothing off their bottom line.We also qualified for a program called Genesis in which they paid 3% down and it covered the appraisal fee,and several other fees. Here is the Genesis Program website The Genesis Program - About - Down Payment Assistance (http://www.thegenesisprogram.org/whatisgenesis.cfm - broken link)
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