QUESTION ABOUT FHA LOAN

bsal — Tue, 06 Jan 2009 00:01:29 GMT

Hey guys and gals I need some thoughts on what I should do, about my current situation, here is a little about me My current credit scores are transunion= 660 Equifax= 717 and Experian= 700 I have one student intallment loan with a balance of 1,484.80 I have a macy's store department card with a bal of 9 dollars, I have no car loan, i have no credit cards, i have no negatives or collections just a couple of inquiars. My question is i'm 28 years old and i want to start looking for a house and i'm trying to get into some programs with FHA and any other programs i can get into, i spoke with one mortage broker over the phone and told him my situation he told me with my scores he would see no probs with me gettin approved but my thing is should I go ahead and start this process of him running my credit and so forth even tho I dont have that much money for closing cost on a house or the 3% down payment FHA is asking for? what do you guys think I should do? thanks

Re: QUESTION ABOUT FHA LOAN

DallasLoanGuy — Tue, 06 Jan 2009 00:41:06 GMT

you can get pre-approved subject to cash to close.

how long will it take you to get that together?

Re: QUESTION ABOUT FHA LOAN

BrianB_The_Loan_Professor — Tue, 06 Jan 2009 02:10:08 GMT

Like said you can get preapproved but until you know when you will have the 3.5% (not 3% anymore) you may want to hold out.

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QUESTION ABOUT FHA LOAN

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