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How can I get a mortgage with a 580 credit score but a very big downpayment?

I am looking to purchase a home in the 240,000 to 310,000 range and was wondering if I can qualify for a mortgage. Once my home is sold I will have between 245,000 to 235,000 cash in the bank avaliable for a downpayment. I also am a widow of the military and am garunteed to bring home 4200.oo a month after taxes for at least the next 11 years. I have no debt, one credit card with a 500 limit that may have 180 balance on it. I have paid of deliquent account and only have 1000.00 of bad ones left and I am still working on them. Please help! I am currently in the Nashville area. I am open to putting down between 100,00 to 210,000 on a house. by jnicol_398_749 from Nashville, Tennessee. Apr 30th 2012 Reply


Nancy J Releford (nancyreleford)
#4 ranked lender in Tennessee - 232 contributions

I just answered your previous post.

Apr 30th 2012
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Seth Jacobs (MaineMortgageBanker)
#6 ranked lender in Maine - 116 contributions

If you do not offset your rental income via a lease agreement and proof of deposit than you may want to chat with a HARD MONEY lender that would be willing to lend you something short term until the sale of your home.

Apr 30th 2012
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Linda Wintersteen (Linda123)
#62 ranked lender in Arizona - 1,256 contributions

email me at yourloanpartnerforlife@live.com i am a private money lender,, i like that label more than a hard money lender...

May 1st 2012
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Linda Wintersteen (Linda123)
#62 ranked lender in Arizona - 1,256 contributions

please call at 602-330-1598 i would like to speak with you regarding your credit.. Maybe there is something we can do to raise your score..

May 4th 2012
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