House Loans & Per Deim

Aus verifiers? I'm sure I should know what that means but I'm still waking up.

On anther note, I strongly believe there is no reason we as drivers need to go into so much debt. We are in an industry that has the potential to make a lot of money if we put the time and effort in. If you are in debt, work as hard as you can pay every penny you can to get out of debt. It'll let you have a better life, reduce the stress and allow you to create wealth.

Another alternative to buying your house is the 100% cash down payment method. You can usually get the house for even less then it's on the market for because you're paying cash.

Good luck to you. Hope this helps.

 

AUS - DU and LP, Automated Underwriting System

 

Duh, see the coffee just hadn't kicked in yet, lol. Though it would help if I drank coffee

Thank you for the answer.

 

not a problem, I take it you used to be an LO?

 

No, but use to be in the financial industry and I listen to and follow Dave Ramsey's advice for living debt free and wealth building.

 

That's great, but I have no idea what price range you are hunting for right now. (It will also depend if you want a free standing home or a house that will have HOA attached to it.) As a first time home owner there is lots of money out there just for you. And much of it will allow a 3% down. There are also other grants that you might find helpful, Google grants for home buyers and carefully select the ones that work for your situation. You will soon be rushing home to paint the house like millions of other Americans. Good Luck!

 

Also,

all kinds of places with owner financing.

If it's drawn up properly/legally,

these can be great deals.

 

The rules for buying a home have changed somewhat since the crash. You will need tax returns for at least the last couple of years. Most lenders want to see applicants on the same job for at least a couple of years. If you are new to trucking you may find it a little difficult to finance due to the short time in your new career. After a couple of years, good financials and credit scores, it will be easier to obtain financing. It is a little more difficult to find financing today than ten years ago. But, it can be done. Most people cannot pay cash for a house. They don't want to wait long enough to save the funds. Once you do find a lender, you could pay weekly payments instead of monthly and pay extra each month. You will be surprised how much faster you can pay off your mortgage. Most mortgages are a rip off anyway. You might try getting a shorter term loan with a balloon payment at the end. At one time you could get a 10 year term or less and save the points and some of the closing costs of a standard mortgage. If you cannot afford to pay it off at that time you could either extend or refinance the balloon payment. It will save you thousands of dollars.

 

Per diem is not counted as income

 

i'd like to know how utility bills are shown as active credit on your credit profile. cuz unless you have an unpaid balance that went into collections. i don't think ANY of us have a payment history with out utilities. i know none are showing on mine.

as for no credit score. i'm pretty sure that only happens BEFORE you actually establish credit for the first time as a child. once you start the process of credit. you have a score for the rest of your life. there's noooooooooooooooo going back to zero. UNLESS, you go 11 years of not doing any credit whatsoever. good accounts stay on record 10 years. 10 years to the credit bureaus is actually 11 years. that means, no new credit or collections. THEN, maybe you'll go back to 0. as all your accounts will have expired and deleted themselves. as long as you have accounts listed, your going to have a score.

as for closing your credit cards. biggest mistake anyone could make. that's the biggest impact on scores. and carrying zero balances, will give you the highest score. the higher your credit limit, the higher your score. as long as your credit balance is zero. close off your credit cards and your score goes down the toilet.

one of my cards got closed down by one of them well known big banks. my score dropped 125 points. leaving me with only one card. i opened 2 cards and got a 175 point increase.

3 years ago, i was making really good money. paid off all my debt my score didn't change. bought a car and my score still hasn't changed after almost 3 years.

i pull down my credit every 2 weeks. sometimes. other times i don't even bother. timely payments has really had no effect on my score. 12, 24, or 36 months. my score is the same.

max out my cards, however. and my score drops 750 to 500 overnight. pay them off and my score jumps back up. overnight.