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What kind of Mortgage can I get?

Super Contributor

What kind of Mortgage can I get?

My scores are low due to recent new accounts and inq's.

 

TU 705 / EX 651 / EQ 669

 

My income as self employed consultant around $200 K / Year

Wife works for state and income $65K / Year

I can put 10% down towards the mortgage. 

 

I found a property that is in NJ and Foreclosed by Bank.

What are my chances of getting approved for a Mortgage loan?

2 REPLIES
Valued Contributor

Re: What kind of Mortgage can I get?

It will depend entirely on how much you claim on your taxes and can document. There are no stated loans (for the post part) and all loans that have good terms/ rates you have to document the income. It will also depend on the amount of monthly debt.

With your scores you will want to take a look at your options but you can probably qualify for both the FHA programs and the Conventional programs

 

Good luck

brian

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Brian B The Loan Professor
Mortgage Banker - offering FHA, VA, USDA , and Conventional mortgages in all 50 states -

If I do not respond to a follow up question please feel free to contact me directly
Super Contributor

Re: What kind of Mortgage can I get?

Thanks. Realtor is going to show me the property tomorrow. Then I'll decide what next steps I should take. Around May/June Time frame I talked to my CU and they said they can approve with minimal paperwork. I need to talk to them on Monday and see what they want.