help! mortgage loans where to start?

Deal Score0

i would like to buy a house in 6-8 months is this doable???
here’s my situation..i’m starting a “real” job as a registered nurse this december. I just graduated. I plan on staying at home and saving up for the next couple of months. I have a student loan for $ 10,000 but my parents are paying for it. I don’t have any other debts. Fico score is around 730-740. I should have about $ 25000-30K for down payment by August 2009. I’m looking for a modest home around $ 150K. Will banks approve me for a home mortgage with this credit and financial background??? what are my chances of being approved or denied? or do i need to wait a little while longer? any info is greatly appreciated! thanks in advance!

I am 23 and have a 4 month old. I am not working myself now, and I decided to go back to college and get my LVN for Texas. Problem is, now I am married and my husband makes way more money than I did last time I attended. I am afraid I won’t be elidgible for any assistance and my credit is shot so I don’t know if I can get a loan. He made 80,000 last year, but I won’t be able to use much of it for school as when I moved in with him, he already had financial commitments for his paychecks such as mortgage, vehicle payments, child support, ect. any suggestions?

  1. Reply
    Ed Atun
    February 6, 2011 at 1:46 pm

    Many lenders want you to be on the job 2 years in order to qualify for a 30 year mortgage. This can be relaxed in certain circumstances but not for all types of loans. Your down payment will help a lot. Average credit score for USA is 720 so you are average. Apply today at a local mortgage company and find out what they say. YOu might be moving into a house in July..

  2. Reply
    Beverly S
    February 6, 2011 at 2:20 pm

    You should be fine. The only thing that doesn’t “fit” is we like a 2 year job history. But if you have your transcripts & can prove that you were a full time student before then you should be good.

  3. Reply
    February 6, 2011 at 3:08 pm

    you need to talk to a lender. You will probably qualify for a conventional loan. After talking to the lender you will get a prequal to let you know how much you can afford. Keep in mind that they will want to see a steady 2 year work history.

  4. Reply
    February 6, 2011 at 3:20 pm

    UCAS offer scholarships for nursing.

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