line items in report/ home mortgage

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publius

Joined: 13 Jan 2009
publius's page
Posts: 19

656 Magic Points

Subject: line items in report/ home mortgage

Fri Jul 24, 2009 1:32 am

If I have a credit score around 680-710 and an open write off. do the mortgage lenders really start looking at the individual items in the report or just the score. would i have a problem getting a loan with a score of around 700 with a w/o?

carol

Joined: 27 Jun 2006
carol's page
Posts: 1307
Location: Los Angeles, California

29555 Magic Points

Fri Jul 24, 2009 12:09 pm

At 710 and very few debts you could still have some chances of getting a home loan approved. But, with a write-off I can see dim chances. Of course a creditor would see that write off on your report and would deny you any kind of loan.

Even if you manage to find a lender willing to lend you money, you would have to pay a huge amount of interest.
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