+2 votes
asked in FHA Loans by
My credit score is 615 my wife’s 768. We have a high DTI ratio around 47-49%. We currently have 2 mortgages our 2nd which is a heloc with capital one for $65000. We’ve used $60,000. Our 1st we owe $255,000 with Mr Cooper. Home value between $370,000 & $390,000(guessing) last appraiser in 2007 for $349,000. Need to pay off Capital One $60,000 looking for cash out if possible maybe payoff some debt with 90%_125% LTV

1 Answer

+1 vote
answered by (23.3k points)
I would love to help you. My name is Mike Gracz. What state are you buying a home?  Your LTV restriction will be 85%. And less you have served for the US Armed Forces. What is a good number to contact you on? Or you can contact me on 630-659-7644 or mgracz@gustancho.com. Look forward to hearing from you.
commented by
I am in Dallas Texas. What time are your office hours on Monday

commented by (23.3k points)
Charles you can contact me anytime tomorrow morning!  Otherwise Monday I’ll be back at 9am central time.