This will important as to how long you need to have a job and your money before you can be pre-approved for a long. Please check our other posts for related topics.
B: Money Seasoned
HOME LOAN PROGRAMS:
-FHA-Sourced funds only, can have gifts funds or grant funds if qualifies
-FHA 203K (For rehabbers)
-VA-no seasoning requirements
-Conventional
-HomePath (Owner Occupied and Investment - can have up to 10 invest properties!!) No current seasoning, sourced
-Manufactured and Modular Homes 60+ day seasoned funds
-Rural Development sourced funds
*Alternate Credit Sources* no seasoning requirements currently
*580+ Mid Credit Score* 60+ day seasoned funds, must have 3 open trade lines with a 12 month history
C: Job-Income Timeline
For home loans-2 year consistent history (can be different jobs, but 2 years consistent (hourly, salary, commission))
HTML clipboardCONTACT ME:
Email subscribers- Go to any of these sites, to get info by email: RonOrr.com,
RenterLeads.com , RentToOwnBuyers.com , Contract4Deed.com , HomeLoansMN.com ,
MinnesotaInvestors.com, SellMnHouse.com, OverFinanced.com, BankOwnedForeclosure.com
Scenario’s can be emailed to: ron@minnesotainvestors.com
Phone: 763-634-1766-These calls will be answered by a loan officer and a buyer’s agent
Please answer these questions on your first Voicemail/Email
1. Credit score of everyone on the loan
2. Last Bankruptcy, Foreclosure, or Short Sale for everyone on the loan
3. How long consistent work for everyone on the loan
4. Monthly payment you can afford
5. Total money available you have
6. Your desired move-in date
