OT - Mortgage Lenders

[yosh12]

Hi,

I have a query that maybe someone can help.

I rent right now a town house...and am looking to purchase a home.

Now I will admit that my credit isn't the best (screwed up in University....)oh well can't live in the past.

I have a couple of loans that i am paying off right now.....we are looking for a small home to purchase.

Now how hard is it to get a mortgage nowadays, and can you consolidate all your debts within a mortgage to make payments less then what I am paying now with rent and a couple of loans / Credit Cards.

Any help would be great>

 

[offwegotoneverland]

putting your loan and mortgage needs together typically only works as a refinance when your using the equity you build up in the home to pay off things. (and then repay the mortgage).

Do you have a down payment of some size? Perhaps that could be used for debt reduction and put down a smaller amount?

Almost all the banks have an on-line application form you could use.

 

[twinz]

Just wanted to wish you good luck....we just bought our first home 2 weeks ago (yippeee), we are both still at home with mom. We got our mortgage through a mortgage broker. WE had an AWESOME real estate agent. We looked at about 50 houses until we finally found one, in our price range that didn't need to be majorly overhauled. We move in July. We had a few debts. They work out all your debts (to some percentage--although I can't remember what it is) to your pay and you shouldn't be spending more the X amount on your mortgage payments.
Just go to the bank and ask they should tell you.

 

[SnowWhite]

Hey Yosh,

Have you contacted the "Mortgage Intelligence" people on Division st? I hear that they are pretty good brokers. If that doesn't work out let me know and I will hook you up with a guy that is very good and should be able to help you out.

Rob (Snowwhite's DH)