Mortgage Loan Qualifications?
Randy T asked:
I am a first time home buyer. I have a house already ready to purchase for 204k. I will be putting 20 percent down and I will be needing approximately 163k. I am trying to go through Wells Fargo or Wachovia for the home loan because I was denied from the other mortgage company because I had 3 credit lines and they need 4 credit lines to be approved.
I am a first time home buyer. I have a house already ready to purchase for 204k. I will be putting 20 percent down and I will be needing approximately 163k. I am trying to go through Wells Fargo or Wachovia for the home loan because I was denied from the other mortgage company because I had 3 credit lines and they need 4 credit lines to be approved.
How many credits lines is required for wells fargo or wachovia to qualify?
Laurie
July 22nd, 2009 at 1:50 am
Harry
Mortgage loan is a term used for the loans secured by a property. Mortgage loans refer to a loan secured by residential property, often for the purpose of securing real estate. Mortgage loans are priced lower than other loan structures because the value of the property risk for the lender.
A fixed rate mortgage loan has its own benefit. If the borrower is budget conscious, he will remain at peace because the monthly mortgage amount will not change.Fixed rate mortgage loan is a loan where the interest rate remains the same through the term of the loan. Fixed rate mortgage loans are the most traditional form of loan.
July 22nd, 2009 at 3:34 pm
Beverly
I don’t know Wells’ or Wachovia’s guidelines on any given day, but I do know that a Correspondent Lender can check several lender’s guidelines quickly and find the best home for a qualified borrower.
If you are married to the idea of going to Wells or Wachovia, why don’t you just call them?