Can i apply for a mortgage loan near a lien on my vehicle?
i have an almost paid stale lien on my vehicle,due to paying off a credit card debt.can i qualify for a home mortgage loan at this time?
Answers:
Yes. I wouldnt see why you couldnt. I had CC debt and an auto loan and still get a mortgage to buy our home. I was told its easier to purchase a home then to acquire an auto loan or CC.
Banks want 10% down unless you own pristine credit.
check your credit reports online
annualcreditreport.com
I would get a score from one of the 3 agencies. Equifax seem the best. Print out your reports and review them carefully.
For best mortgage rates make sure credit card debt is 0, or formulate sure its not more than 30% of your available credit limits.
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It really depends on many things. What is your rack up -- best place to get your score is MyFico.com. If your gain is less than 660, forget it. Even at 660 you will need a voluminous downpayment, and a really low debt to income. And you won't get a good rate.
Mortage requirements are totally strict now. They will want proof of income and work history.
If you have any derogatory items on your credit report, you will hold to pay them off. Getting copies of your credit report and making sure they are adjectives clean is a good place to start.
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Answers:
Yes. I wouldnt see why you couldnt. I had CC debt and an auto loan and still get a mortgage to buy our home. I was told its easier to purchase a home then to acquire an auto loan or CC.
Banks want 10% down unless you own pristine credit.
check your credit reports online
annualcreditreport.com
I would get a score from one of the 3 agencies. Equifax seem the best. Print out your reports and review them carefully.
For best mortgage rates make sure credit card debt is 0, or formulate sure its not more than 30% of your available credit limits.
/
It really depends on many things. What is your rack up -- best place to get your score is MyFico.com. If your gain is less than 660, forget it. Even at 660 you will need a voluminous downpayment, and a really low debt to income. And you won't get a good rate.
Mortage requirements are totally strict now. They will want proof of income and work history.
If you have any derogatory items on your credit report, you will hold to pay them off. Getting copies of your credit report and making sure they are adjectives clean is a good place to start.
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