cosign student loan underwriting guidelines?
luckydog Asked: cosign student loan underwriting guidelines?
My son needs a cosigner for his student loan (big surprise). I have a Chapter 7 on my report from 10/2003, eight years ago. I called several private lenders and they will not tell me if this will reject me as cosigner. My fear is these online applications are cookie cutter and they see a Public Record from 8 years ago it will reject my app.
Does anybody have this past experience or know where I can find the uderwriting guidelines?
Private lenders just say apply and we will review your application. Problem is each application they pull a credit report and lower my score.
My credit is in good standing since Chapter 7 it has been rebuilt few installment loans, auto, credit cards etc.
Thanks
Categories: Loan Questions Tags: Jonetta Robert, Scott Micro, Scott Spencer, Tennessee United State
MORTGAGE FOR MID 500 FICO SCORE?
NiNAMiMaDa206 Asked: MORTGAGE FOR MID 500 FICO SCORE?
My husband and i are looking to buy a home priced at 244,900 we make approx 65,000 a year, i have past due medical debt and he has never built his credit with an auto loan or any other installment loan, my fico score is 545 his is 580. i recently paid off an auto loan within 8 months from the purchase date which was too soon to improve my credit which i was told later, but it shows i am good with my obligations. does anyone know where i can get lending for this home with our current status? we have been renters for 10 years and have never owed or been evicted, our rental history is excellent. please leave your email address or the email address of the person you know, if you know a lender that can help. thank you, j.s.
Categories: Loan Questions Tags: FICO
Should my auto loan get approved?
Eric Humphrey Asked: Should my auto loan get approved?
On Saturday I drove home a used 2010 Infiniti G37 that I purchased from a dealership.After trading in my car, and putting $15K as the down payment, I will be financing $18,623.28. The lowest financing rate the dealership could find for me was 4.9% with SunTrust bank, so I went with that.So I currently have an Installment Sales Contract with the dealership where I must return the car if the loan is denied.
Here is my background info:
Age: 24
Occupation: Software Engineer
Gross Salary: $68,500
Years at Job: 1 yr. 11 months
Current Credit Score: 837
Current Mortgage Payment: $1,328 (I've owned the house for 1 year)
Should I be worried that this loan will get denied by the bank?I'm hoping that my near perfect credit score and my down payment of $15,000 should help get it approved.What do you think?
Categories: Loan Questions Tags: Eric Humphrey Asked, Installment Sales Contract, OK
I need a long term installment loan(not a payday loan) I have bad credit.?
Michael D Asked: I need a long term installment loan(not a payday loan) I have bad credit.?
Anyone know any legit bad credit lenders?
Categories: Loan Questions Tags: Sandra Roaten Answered
A sum of $50,332 is to be repaid over a 9-year period through equal installments made at the end of
Jeff Asked: A sum of $50,332 is to be repaid over a 9-year period through equal installments made at the end of
A sum of $50,332 is to be repaid over a 9-year period through equal installments made at the end of each year. If an interest rate of 8.9% per year is charged on the unpaid balance and interest calculations are made at the end of each year, determine the size of each installment so that the loan (principal + interest charges) is amortized at the end of 9 years.
Am i supposed to use the sinking fund payment with this? If so is S of the formula $50332 or is R $50332?
If S is 50332 then I got 3881.67 for my answer. is this correct?
Categories: Loan Questions Tags: Answers David Answered, Jeff Asked, PMT
Can I buy a home with 765 Experian credit score?
Robbie Asked: Can I buy a home with 765 Experian credit score?
My annual income is $ 58,000 and have had this job for over 20 months. I will consider my job stable and I am confident I can land a similarly paying job within 6 months even if I lose my current job. Previous income was less than $ 30,000 per year. No any installment loans, car payments, mortgages. I have a bunch of credit cards which I pay off monthly. Experian score is 765. Do you think I can buy a $300,000 to $ 350,000 home/townhome with this income and credit score? My available cash balance is $35,000 after separately saving $10,000 for incidental expenses. Or do you think I can afford a more expensive home?
If needed, I can add my spouse as cosigner, who makes around $25,000 a year and has similar credit score.
I am in two minds if I should buy a home when the prices are down. All your answers are greatly appreciated.
Incoming search terms:
- 765 credit score
- credit score 765
Categories: Loan Questions Tags: Answered Unless, Good Luck, Robbie Asked
Does it save me money to pay our mortgage payment every 2 weeks?
happydawg Asked: Does it save me money to pay our mortgage payment every 2 weeks?
We bought a house in October, and I decided it would be easier on me to have the mortgage payments taken directly out of my checking account every other Friday.I think 2 or 3 months out of the year it ends up being 3 payments a month.
Our mortgage is a fixed 4.25 over 30 yrs.I paid $100 to do the paperwork to have the automatic deduction taken out of my personal checking account.
The every other Friday payment is $538. 17.This includes property tax which is going to dramatically go up this year since we bought the house off a deceased elderly gentleman who had all kinds of exemptions.We will only have owner occupied exemption.
The mortgage lender told me paying the monthly payment in 2 or 3 installmentswould cut about $25,000.00 off the amount of the loan.
Did I screw this up, or is it better to pay every 2 weeks?Im always very nervous about crooks.
Categories: Loan Questions Tags: Asked Does
Kate takes out a 5 year loan for $3000 at a simple interest rate of 12.5% p.a. how much is each inst
Jane Asked: Kate takes out a 5 year loan for $3000 at a simple interest rate of 12.5% p.a. how much is each inst
Kate takes out a 5 year loan for $3000 at a simple interest rate of 12.5% p.a. If the repayments are to be paid in EQUAL monthly installments, how much is each installment?
Categories: Loan Questions Tags: EQUAL
what does "liquidate loans" mean? Does it include "selling loans" a bank has?
Laylas Mom Asked: what does "liquidate loans" mean? Does it include "selling loans" a bank has?
Student loans are done on a yearly basis.They are not going to give you 4 years of education costs up front.If you filled out a FAFSA the government will tell you what your expected family contribution is and then give you an estimated amount of federal aid.Then your schools gives you a financial aid package based on those FAFSA results.If the government aid is not enough to cover your expenses then you may need to take out private credit based loans to pay the rest.If your credit score is below a 650 then you may very well need a co-signer.Still a private loan company will only give you 1 academic year's worth of aid and the maximum amount they give is determined by the cost of attendance determined by your school.
Categories: Loan Questions Tags: FAFSA, Laylas Mom Asked
Do i need a co-signer for a student loan?
Nick Dominugez Asked: Do i need a co-signer for a student loan?
my school is going to cost 100,000 dollars for 4 years but i want to get a 180,000 dollar student loan for expanses will they approve me or now
Categories: Loan Questions Tags: FAFSA, Nick Dominugez Asked