Getting home loans, how hard?

[Emerald 0]

How hard is it in the US to get a home loan? We would be looking at approximatly $70,000. (living in Roswell New Mexico)

We are about to purchase 5 acres of land valued at $5000, hubby has a truck fully owned worth around $4000, plus when we arrive we will have another car fully paid for, plus whatever money we have saved/come over with.

We will have 3 young kids and only hubby working (until i can get work).

His credit was ####### a few years back but we paid alll debts 5yrs ago and he's not had any biills debts etc since he left.

Is there a safe way to find out his credit rating history, thats not via the internet?

Thanks

Emerald

[almaty 19]

i had several clients who got fha loans even after bankruptcy...has to ahve a clean record the last 2 years...most mortage firms will do a precert for you and tell you what level of home loan amount you would be allowed..

[bettenan 1]

How hard is it in the US to get a home loan? We would be looking at approximatly $70,000. (living in Roswell New Mexico)

We are about to purchase 5 acres of land valued at $5000, hubby has a truck fully owned worth around $4000, plus when we arrive we will have another car fully paid for, plus whatever money we have saved/come over with.

We will have 3 young kids and only hubby working (until i can get work).

His credit was ####### a few years back but we paid alll debts 5yrs ago and he's not had any biills debts etc since he left.

Is there a safe way to find out his credit rating history, thats not via the internet?

Thanks

Emerald

Browse the HUD/FHA website for consumer info. HUD/FHA

I also recommend going to a Housing Counseling agency for Homeownership training/pre-purchase counseling. Often you are eligible for/can get grants and/or special financing for attending these trainings.

[Nikita2Charles 32]

WARNING: There are privacy concerns regarding seeing someone else credit report

For everybody you can get a FREE COPY of your credit report annually.

most of the 3 major credit reporting sites will provide you your FICA score for a small fee around $5.

https://www.annualcreditreport.com/cra/index.jsp

http://www.ncsha.org/uploads/New%20Mexico%...0of%20Entry.pdf

There are various HFA programs out there to assist people buying a home

[Emerald 0]

Thanks for that it gives me an idea what to expect, its very daunting with 3 young kids no knowing alot about all this stuff.

How safe are those companies to do credit checks? Hubby is scared to give his SSN over to them.

Thanks

Emerald

[joej 0]

Thanks for that it gives me an idea what to expect, its very daunting with 3 young kids no knowing alot about all this stuff.

How safe are those companies to do credit checks? Hubby is scared to give his SSN over to them.

Thanks

Emerald

I don't think it is too difficult. I got mine when I was single with one income. My credit was ok. Just started out at a higher interest rate then refinanced a few years later. You can check around and attempt to prequalify.