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utman17
07-29-2003, 11:27 AM
Has anybody used this company before?
firstsource
07-29-2003, 12:45 PM
I deal with the wholesale division and they are great to work with.
Very fast approvals/denials (but mostly approvals) and very fast documents.

Charles
utman17
07-29-2003, 12:47 PM
Thanks Charles, they require 20% down from what I was just told, that is a bit to much at this time. I have a average of 680 fico on all 3 bureaus. I was looking into about a 200k loan with the hopes of putting down 10%, do you know what direction I need to go in for this?
firstsource
07-29-2003, 01:08 PM
That is so strange, I know that they changed the name of the wholesale division from Ameriquest to Argent, "because it was causing problems with the LO's that work retail. Now I understand.

With your score, if you have not had a BK in the past 3 years, no mortgage/rental lates, they will give you a 95% loan.

Charles
utman17
07-29-2003, 01:25 PM
A friend of mine has told me to go with Countrywide, have you heard of these guys?
firstsource
07-29-2003, 01:33 PM
Yes, One of the largest in the industry.
Charles
utman17
07-29-2003, 01:42 PM
Is it best to go ahead and get like a pre-approval and try and lock in a rate before they go up anymore? I have everything ready, downpayment the credit just need to find a house (or choose one of the ones I already have picked out) ? Thanks for your time and help..
utman17
07-29-2003, 01:43 PM
Is it best to go ahead and get like a pre-approval and try and lock in a rate before they go up anymore? I have everything ready, downpayment the credit just need to find a house (or choose one of the ones I already have picked out) ? Thanks for your time and help..
kb9tbq
07-29-2003, 01:45 PM
Yes, I think you are better off locking in the rate and know first what your approval amount will be (then you will know what price range you can shop in).
firstsource
07-29-2003, 06:16 PM
Most realtors/sellers will want to see a pre-approval letter before you start negotiating.

The lenders that I work with, will only lock a rate if you have a
1) signed sales agreement/ REPC
2) Appraisal and/or title work.

If you qualify, and don't know who to deal with, I would be glad to get you a pre-approval letter.

Charles
edubb007
08-03-2003, 05:39 PM
UT! 680 is prime! I was told middle score had to be 620 for a good mortgage. What's up with that? Did they specify as to the 20%?