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  1. what are you trying to apply for? What kind of business? Have you tried crowd funding?
  2. you can check local rates online to get an idea but really you wouldn't know for sure what your rate would be until you apply somewhere. There may be "add-ons" to the rate for fico, LTV, score, etc depending on where you go but conventional will be slightly higher than FHA. Anybody who quotes you a rate without an APR (annual Percentage Rate) or at least taking an application is asking for trouble. A good loan officer will go through the application, credit and preapproval process with you. Hope that helps
  3. Lenders will pull what is called an LRR, which basically has the ability to see if the creditor is showing any new balance or activity on the account since it was last reported on the credit report that the lender has at application time. So, if you have increased the balance on an account and it raises the monthly payment and your debt ratios are borderline to begin with...you may have just disqualified yourself for the loan. I've seen it happen before, so be careful.
  4. With 20% down and good credit scores you should be able to find a local "portfolio" lender, one who uses their own money. Either a local bank or credit union. FNMA and FHLMC guidelines will not allow you to go through them for 7 years, unless you had very extenuating circumstances that you could verify and document, like a medical emergency or major life emergency, The fact that it was an investment property that was foreclosed on, and you now wish to buy a primary home may me allowed, but again, you would have to document a major life emergency...the market crash doesn't qualify. Good luck.
  5. sorry if this question is an old one, but I am new to the forum and am wondering what a pdf is? How does it work? Thanks

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