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DAP Forums > DREAM Act > The Lounge

Mortgage loans - Page 2

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#11
03-03-2020, 11:30 PM
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monkeyking88
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I bought a house in the bay area, ca with citibank.
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#12
03-06-2020, 04:27 AM
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I am looking to buy a home this fall. Any home owners in Texas and what bank approved you? Please any help is appreciated!
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#13
03-07-2020, 07:54 PM
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Get in touch with the people here https://movement.com. A few weeks ago I received a flyer from them advertising mortgage for DACAs. I will see if I can find the flyer and post it here.
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#14
03-07-2020, 08:33 PM
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I just buy houses with cash cause of my software job and investments. Then I lower property values by bringing all my vatos from the calle to have a little fiesta with loud trompeta music and a nice cookout.

Then on sundays we go to la iglesia católica because all my success is due to jesus' divine hand and this is the part the protestant majority hates the most. They can handle the rest, but oh no, Catholicism is one step too far mister.
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locodaca.
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#15
03-09-2020, 11:47 AM
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Quote:
Originally Posted by beingoflight View Post
Jesus Christ, we might get DACA terminated on June and you plan to buy a house now?

Hold on until June.....
Can’t put your life on hold because of DACA.
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#16
07-08-2020, 02:50 PM
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Hi All,

I see a bunch of threads on mortgages but can anyone give some tips on how to prepare your credit for mortgage. my score is currently in the gutters (low) but I will have finished paying any loans in a few months. I did some have accounts closed and sent to collection when I was younger but I dont think some of those will come up on a credit check anymore.
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#17
07-08-2020, 05:47 PM
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Quote:
Originally Posted by sk16 View Post
Hi All,

I see a bunch of threads on mortgages but can anyone give some tips on how to prepare your credit for mortgage. my score is currently in the gutters (low) but I will have finished paying any loans in a few months. I did some have accounts closed and sent to collection when I was younger but I dont think some of those will come up on a credit check anymore.
Well... It is simple. Pay off any loans in a timely manner. Do not have any credit card balance at the end of each month. Try to have consistent and stable spending on your credit cards each month. But, don't let credit balances roll over to next months resulting in interest payments.

It takes time to build credit. Watch YouTube videos about building credit for mortgage and stuff like that. They give general but helpful advice.

Due to the recession, many mortgage lenders now have strict requirements. So, if your credit score is not good and you don't have enough down payment, it will be really hard to find any lender willing to finance your home purchase right now.

If your credit score is as bad as you say, it will take a few years to build your credit.

Ideally... to get the best "deals"

1) Improve your credit score to 720~740 or above.
2) Save for a down payment for your future home. You want to have at least 20%. That is not necessary in a normal environment. But, at least now and for the foreseeable future, due to more strict requirements, a lot of lenders want 20%. So, if you are aiming to buy a home that is $300,000, you want to have $60,000.
3) Lower your monthly loan/debt payment as much as possible for your income-to-debt ratio.
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#18
07-10-2020, 11:43 AM
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Thanks for your reply above^^

I have been reading everywhere that you need atleast a 580 credit score for fha loans. thoughts on that?

Would it help if my sister, who is also a daca recipient, were to joint her income and mine"?
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#19
12-19-2020, 07:33 AM
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Quote:
Originally Posted by anon.nona View Post
Hello everyone,

I am looking to buy a house this year, hopefully in the next 6 months or so. I went mortgage shopping recently and basically got auto denied, as in they wouldn't even type in my information, as soon as they realized I am not on a Visa or under any permanent immigration status.

Did some reading but couldn't really find anything local, I live in Washington/Seattle. Rocket mortgage was the only viable option from those I saw.

One thing a nice gentleman warned about at a local credit union is to make sure that I not only get pre-approved but underwritten, as otherwise, after making an offer and starting the buying process, the loan can be denied when they see my status and the bank basically keeps some of your money.

So, question to all you home owners out there, specially in Washington, who do you have your mortgages with and did you get underwritten for it ahead of time?

Also, did they give you extra high rates because of our status? I was momentarily offered 3.8 percent because ofy credit score 800+.

Any recommendations?

Hi there, looking to purchase a house as well, how did it go for you? Did you get approved for a loan? Would love some more information. Thanks in advance.
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#20
12-23-2020, 04:03 AM
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Quote:
Originally Posted by anon.nona View Post
Hello everyone,

I am looking to buy a house this year, hopefully in the next 6 months or so. I went mortgage shopping recently and basically got auto denied, as in they wouldn't even type in my information, as soon as they realized I am not on a Visa or under any permanent immigration status.

Did some reading but couldn't really find anything local, I live in Washington/Seattle. Rocket mortgage was the only viable option from those I saw.

One thing a nice gentleman warned about at a local credit union is to make sure that I not only get pre-approved but underwritten, as otherwise, after making an offer and starting the buying process, the loan can be denied when they see my status and the bank basically keeps some of your money.

So, question to all you home owners out there, specially in Washington, who do you have your mortgages with and did you get underwritten for it ahead of time?

Also, did they give you extra high rates because of our status? I was momentarily offered 3.8 percent because ofy credit score 800+.

Any recommendations?
http://dreamact.info/forum/showthread.php?t=84582
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