In this manner, can I purchase a home with a 500 credit score?
Generally speaking, to get maximum financing on typical new home purchases, applicants should have a credit score of 580 or better. … Those with credit scores of 500 or better are eligible for 100% FHA loan financing with no down payment required when using the FHA 203(h), Mortgage Insurance for Disaster Victims.
Also, how do I contact my home planet?
Find out now! Have your payment electronically deducted from your bank account by contacting our Customer Assistance Center at 1 (866) 882-8187 and selecting Option 2.
How do I get a free government house?
The primary source of free housing grants is the government, through grant programs for home buyers. The U.S. Department of Housing and Urban Development (HUD), through a joint initiative with the Federal Government and banking, offers grants to encourage home ownership.
Your escrow balance is the amount of money that is held for you in your escrow account (also called an impound account in some areas of the country). You pay into your escrow account each month as part of your regular mortgage payment.
For homeowners, a mortgage escrow account is a special holding account for your homeowners insurance premiums and property tax payments. … If there’s ever a shortfall, your lender will still cover the payment (and then eventually increase your monthly mortgage payment to make up that difference).
Whether you’re a current Planet Home Lending customer or considering us for the first time, we can help you find the best loan option for your financial situation. Hours: Monday – Thursday: 9:00 am – 9:00 pm ET. Fridays: 9:00 am – 6:30 pm ET.
Michael “Mike” Dubeck is President and CEO of Planet Financial Group, LLC, the parent company of Planet Home Lending, LLC, and Planet Management Group, LLC, a private client and government sub-servicer of residential and small-balance commercial loans.