Mortgage Loans

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Established Member
Elcid89
Posts: 353
Registered: ‎10-04-2012

Re: Mid Scores...

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‎10-23-2012 09:15 AM

fuzzybean wrote:

OK, that makes sense on the amount.

 

What about the rest of his email.  Does that sound right?

 

Also, what if we choose to build?  How does that work?

Building will involve a construction loan. I did an in depth explanation of the process involved here:

 

http://ficoforums.myfico.com/t5/Mortgage-Loans/Not-a-buyer-s-market-Separate-loans/m-p/1651252#M1048...

FICO scores: 819 (EQ) 815 (EX) 803 (TU)

Amex Platinum NPSL - Citi HHonors Sig. $42k - BMW Ultimate $36k
Chase Sapphire Preferred $42k - Merrill Lynch + Signature $33k - USAA Rate Advantage $20k
NFCU Flagship Signature $33k - USAA Cash Rewards AMEX $20k
Citi Platinum Select / AAdvantage Signature $23k

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Frequent Contributor
fuzzybean
Posts: 292
Registered: ‎04-04-2012

Re: Mid Scores...

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‎10-23-2012 09:18 AM

I don't want to deal with that, either.  What about spec homes?

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Established Member
Elcid89
Posts: 353
Registered: ‎10-04-2012

Re: Mid Scores...

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‎10-23-2012 09:31 AM

fuzzybean wrote:

I don't want to deal with that, either.  What about spec homes?

A spec home would be handled like any other purchase. You're just buying from the builder instead of from a private party.

 

FICO scores: 819 (EQ) 815 (EX) 803 (TU)

Amex Platinum NPSL - Citi HHonors Sig. $42k - BMW Ultimate $36k
Chase Sapphire Preferred $42k - Merrill Lynch + Signature $33k - USAA Rate Advantage $20k
NFCU Flagship Signature $33k - USAA Cash Rewards AMEX $20k
Citi Platinum Select / AAdvantage Signature $23k

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Frequent Contributor
fuzzybean
Posts: 292
Registered: ‎04-04-2012

Re: Mid Scores...

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‎10-23-2012 09:41 AM

That's what I figured.  Good to know.  With 90% of the homes we're looking at being short sales with contracts, we're going to look into spec homes, too.

 

Thank you.

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