Jay Beckingham's (jayb) Blog

Mortgage and Lending - Bank of England Mortgage - 385907



First of all let's get this out there. Mortgage lenders have their own terms and guidelines. We hear all the whinning about those that many feel are too restrictive, but not too much about those that may be helpful. Try this one on for size. a first time homebuyer is someone who has not owned a h...
But you said I needed a score higher than 640 for FHA. Mine's 651, but now you tell me my credit isn't good enough. What's up with that? Okay, lenders/investors establish credit score minimums for the programs they offer, and essentially if you don't pass the scoring test than you don't pass GO! ...
  Well that sure doesn't look good! From the business side of Real Estate, you won't be closing your transaction, in all liklihood if you do not already have your insurance bound. Once a storm is named All bets are off On the positive side (you mean there's a positive side?). Despite the weather...
So I'm not a listing agent, and I'm not sure what the motivation is to say AS IS when listing a property, but if I was a selling agent, or a buyer, I don't think I'd pay much attention to that, unless there are major issues. I'd really like to see some data on how many properties listed "AS IS" a...
As I am the master of the obvious let's start by clarifying the obvious; I am a lender, have been one for over 30 years, my perspective and viewpoints are those of a lender. now the answer to the question, the real problems with preapprovals are... too numerous to mention but I'll try anyway. Let...

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