Posted by Doug on August 07, 2001 at 11:00:45:
Great,thanks. I went and checked it out. Now my question is - for a first timer like myself, is it important that I have this score to take to my bank (or mortgage institution I choose) to aid me in getting a good rate on a loan for my first purchase? (since I have no history other than credit cards, etc.)
What is the best thing I can have with me to help my situation? Any suggestions are appreciated, since this will be my first time.
undecided - Posted by jeff bisnaw
Posted by jeff bisnaw on August 04, 2001 at 20:19:31:
I found a program with 100% financing on investment properties. Only catch, really high interest. first 80% of loan@ 8-10% last 20%@ 11-14%. I can keep it for a year then refinance, but will pay 3mos interest as penalty. Sounds like it could at least get me in the game. Anybody had any experience with such a program?
Re: undecided - Posted by Toney
Posted by Toney on August 05, 2001 at 10:05:59:
Most investors would be happy to get a 10% mortgage on 5% down. I’m assuming your FICO scores are in the 680-700 range. If your mortgage company is willing to do that for you, choose your property carefully and jump in. You could even have the seller pay your closing costs (to 4%) to further minimize any financial risk.
Re: undecided - Posted by Wayne-NC
Posted by Wayne-NC on August 04, 2001 at 21:52:35:
Who has this program? If the deal makes economic sense, do it.
FICO scores - Posted by Doug
Posted by Doug on August 06, 2001 at 14:05:07:
I am a newcomer to the field, and am wondering where is the best place for me to find my FICO score?
Re: FICO scores - Posted by Gary (FL)
Posted by Gary (FL) on August 07, 2001 at 04:44:30:
try myfico.com