Wells Fargo FHA mortgage questions..

[Anonymous]

Sorry...I was hoping for the best for you.  Even with the 600 you weren't approved?  Were you all willing to put anything down? Would that of helped?

[MImommy5]

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@Anonymous wrote:

Sorry...I was hoping for the best for you.  Even with the 600 you weren't approved?  Were you all willing to put anything down? Would that of helped?

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If you are asking me, we did not apply at wells fargo. I was considering it, but all the neg. feedback here I figure it is useless. We do have $7500 down payment assistance and about $5,000 saved up. so $12,500 for down payment.  But for the wells fargo FHA your scores have to be 600+ to be allowed to use the down payment assistance. I dont know all 3 of our scores. only our Myfico score.

[Booner72]

What is this "down payment assistance" and where do I find it?  Is it the USDA thing?  Homepath?

Thanks!

[MImommy5]

I live in MI. The down payment assistance is through MSHDA. It is up to $7500 loan, that doesn't have to be paid back unless you sell your house within 10 years, then its paid back when you sell.

[Anonymous]

Does anyone know what credit scoring models they pull? I just financed a vehicle and they used the same Equifax scoring model as myfico. If the mortgage department uses the same model that would be great, as i would like to finance my home thru them as well late this year or next year.