Do I Need A Real Estate Lawyer In Florida?

Did you know No Credit Score can mean good credit and loan approval? Click the image to watch our video or page down to read the email content.

You can still qualify for a mortgage without a credit score.

If you are a borrower who doesn’t use traditional credit but have exemplary payment history with rent and other non-reporting creditors, which can include Utilities, insurance carriers, and phone bills as well as a host of other verifiable creditors.

Then you can use your nontraditional credit to qualify for a mortgage

It’s important to know that lenders still consider any derogatory credit references that appear on the credit report

There cannot be any 30-day lates on rental payments within the past 12 months

Just one other account can have a 30-day delinquency in the past 12 months

No collections (other than medical collections) or judgments in the past 24 months

Judgments, liens, collections, and charge-offs of non-mortgage accounts must be satisfied in accordance with guidelines

The property must be a one-unit, principal residence, and all borrowers must occupy the property.

All property types are permitted, but NO mobile homes

Must be a purchase or limited cash-out refinance

The loan amount must meet the conforming loan limits

Must be a fixed-rate mortgage with Down payment of 10% or more.

Income to debt ratios can’t be more than 40%

Reserves may be required