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Carlos Scarpero's Answers

Does a student loan count against me when looking for a mortgage?
Yes, but how much depends on the type of mortgage you are getting. If you are on regular payment it's the loan payment amount. For deferment, it's 1% of the balance in most cases.Your best bet is conventional, which can use income based repayment as your amount for DTI calculation.More info on my blog...
Can I Get an FHA Loan With a Credit Score of 600?
Yes, it's possible. We go to a 580 with 3.5% down or a 550 with 10% down and can lend in 49 states. Good
Can I get a mortgage after starting a new job?
Yes, you should be ok since you are a new grad. Need to show proof of grauation
Why won't the bank approve our USDA loan?
Yeah, we would deny that one too. We use the lower middle score, which would be the 633 for qualification purposes. Our min score for USDA is 640.In reality, it needs to be closer to 700 to get approved. Also, you had mentioned student loan debt, which may be going against you too.Unfortnately, the banks like...
could i go zero down for VA with a 620 credit score?>
Yes, you can. There's no official min score. We go to 580
Do you work with people in ohio
I'm in Dayton,
Do you lend in Ohio
I do. I'm in
Lost My Job During Escrow
Yea, you need to be up front about it. It will most likely derail your loan. Sorry about the layoff.
Down payment assistance programs.
There are many offered through federal, state and local authorities. You may qualify depending on the average income in your community.
Best Time to Buy?
If you can get qualified now, do it. Rates are definitely going up
Hello, I had a bankruptcy and it was discharged. I am now looking to purchase a home in another state. Where do I start?
How long ago and what type was it? If it's chapter 7 and discharged over 2 years ago, you are good to go.For a 13, it needs to be at least one year since the filing date.I can lend in 49 states and can help.www.Scarpero.com937-572-3713

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