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Contributor
Posts: 567
Registered: ‎10-04-2012
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Re: Mid Scores...


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 04 scores: 809 (EQ) 812 (EX) 818 (TU)

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Frequent Contributor
Posts: 309
Registered: ‎04-04-2012
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Re: Mid Scores...

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

Contributor
Posts: 567
Registered: ‎10-04-2012
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Re: Mid Scores...


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 04 scores: 809 (EQ) 812 (EX) 818 (TU)

Amex Platinum NPSL - Citi HHonors Sig. $58k - BMW Ultimate $40k
Chase Sapphire Preferred $62k - Merrill Lynch + Signature $41k - USAA Rate Advantage $28k
NFCU Flagship Signature $50k - USAA Cash Rewards AMEX $28k
Citi Platinum Select / AAdvantage Signature $31k - Chase Amtrak Rewards World MC $41k

Frequent Contributor
Posts: 309
Registered: ‎04-04-2012
0

Re: Mid Scores...

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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