Posted on: 13th Dec, 2012 01:17 pm
I'm looking at purchasing my first home. I'm worried however I wont be taken seriously by lenders, as I'm still obtaining my undergraduate degree. I have a very steady income and a credit score around 640. From what I've read I feel that the FHA loan would be the best fit for me.
So my questions:
Is quicken loans a reliable source for a mortgage? I've heard nothing but good things, but I still feel uncomfortable working with someone over the phone or internet.
What is the time frame typically on a home purchase from start to finish? Would it be unrealistic to want to own my home within two months?
Thanks!
So my questions:
Is quicken loans a reliable source for a mortgage? I've heard nothing but good things, but I still feel uncomfortable working with someone over the phone or internet.
What is the time frame typically on a home purchase from start to finish? Would it be unrealistic to want to own my home within two months?
Thanks!
Hi Courtney,
Yes, with a 640 credit score, it will be easier for you to get qualified for a FHA loan rather than any other type of loan. It may be quite a few weeks in order to complete the home purchase procedure. If you don't want to speak to the lender over the phone, you can get in touch with the local brokers and they will fix a meeting with the lenders in person.
Thanks
Yes, with a 640 credit score, it will be easier for you to get qualified for a FHA loan rather than any other type of loan. It may be quite a few weeks in order to complete the home purchase procedure. If you don't want to speak to the lender over the phone, you can get in touch with the local brokers and they will fix a meeting with the lenders in person.
Thanks
Welcome Courtney,
I personally don't think that it will be unrealistic to own a home within the next 2 months. However, in order to do so, you will have to provide the lender with the required documents and other details.
I personally don't think that it will be unrealistic to own a home within the next 2 months. However, in order to do so, you will have to provide the lender with the required documents and other details.