Great Community Authority Forums | Allan Kim | Favorites https://gcaforums.com/members/allafwemg/activity/favorites/ Activity feed of Allan Kim's saved posts. Tue, 12 May 2026 18:07:39 +0000 https://buddypress.org/?v=2.21.1 en-US 30 hourly 2 5c53e296d775e0ed61a58ffbccbd5519 Bruno replied to the discussion Is there really a 4th reporting credit agency in the forum Credit Forum https://gcaforums.com/topic/is-there-really-a-4th-reporting-credit-agency/#post-23091 Fri, 22 Nov 2024 19:26:45 +0000 Reply to Is there really a 4th reporting credit agency

Yes there is.

]]> 55fe4700891cfc7b4790a258ec1b0ef4 Bruno replied to the discussion Mortgage With Bad Credit in the forum Case Scenarios https://gcaforums.com/topic/mortgage-with-bad-credit/#post-23085 Fri, 22 Nov 2024 18:20:09 +0000 Reply to Mortgage With Bad Credit

Mortgage Prequalification and Canceled Mortgage Payments

Requirement: In most cases, mortgage lenders only call for the 12-month period, which is never required – Such specifics and requirements don’t exist. Don’t get me wrong. They will demand proof of payments on loans, but not limited to.

Still, they may seek documentation that demonstrates…

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]]> 8407bb7a644b36910c40d1ef52d922a4 Allan Kim started the discussion Mortgage With Bad Credit in the forum Case Scenarios https://gcaforums.com/topic/mortgage-with-bad-credit/ Fri, 22 Nov 2024 18:10:25 +0000 Mortgage With Bad Credit

IS 12 MONTHS CANCELED CHECKS REQUIRED TO QUALIFY FOR A MORTGAGE? Is there a faster way of getting rid of the record of debt settlement on your credit report? Is achieving a 700 PLUS FICO credit score possible one year after a bankruptcy discharge?

]]> 58c929f2cf57592bd30b8113d86630e2 Allan Kim started the discussion Lender Credit or Seller Concessions For Closing Costs in the forum Underwriting Help Desk https://gcaforums.com/topic/lender-credit-or-seller-concessions-for-closing-costs/ Fri, 22 Nov 2024 18:05:05 +0000 Lender Credit or Seller Concessions For Closing Costs

Is it easy to qualify for lender credit and/or seller concession to pay for closing costs?

]]> 3ab286aeed92e900af0818d91b31306d Allan Kim started the discussion Is there really a 4th reporting credit agency in the forum Credit Forum https://gcaforums.com/topic/is-there-really-a-4th-reporting-credit-agency/ Fri, 22 Nov 2024 18:02:25 +0000 Is there really a 4th reporting credit agency

Is there really a 4th reporting credit agency?

]]> d395c44c60551196562d022421b468d4 Allan Kim started the discussion Is Home Inspection Recommended in the forum Underwriting Help Desk https://gcaforums.com/topic/is-home-inspection-recommended/ Fri, 22 Nov 2024 17:59:52 +0000 Is Home Inspection Recommended

Is Home Inspection Recommended?

]]> 6fd5d22b5eae498b9296d93767757b38 Kronos den posted an update: What can I get with 648?I've improved my FICO to 648. […] https://gcaforums.com/activity/p/20600/ Fri, 22 Nov 2024 13:30:16 +0000 What can I get with 648?
I’ve improved my FICO to 648. What could I now expect to get in a mortgage, or should I wait until it gets to a higher number? What would be a realistic target number?

]]> 1 6615de29acf8e940bbd103307325ccb9 Alysa Cambell started the discussion Financed loan for a Condo purchase in the forum Condotels https://gcaforums.com/topic/financed-loan-for-a-condo-purchase/ Fri, 22 Nov 2024 13:27:25 +0000 Financed loan for a Condo purchase

Needed 100% financed loan for a Condo purchase
I was approved in July for a 100% financed loan for a condo conversion.

Not sold are 50% of the units in this condo conversion, so I was placed into escrow some time ago (extension). This lender requires 50% of the units to have sold prior to funding the loan.

Well due to the length of time it has…

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]]> db2ad9c97db2abe78f26b96b5dbe4fd8 Aaron posted an update: I have had it since March and no late payments and […] https://gcaforums.com/activity/p/20598/ Fri, 22 Nov 2024 13:22:47 +0000 I have had it since March and no late payments and then August and I went into the grace period actually 2 days after the payment was due they were calling me. I should have answered but I didn’t I just figured ok Ill make the payment out of my next check and that is what I did. I passed the 15 day grace period and entered into 18 days late but…

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]]> 1 893ab15852ba77ec09f9f91cd215d150 Austin started the discussion Repossession in the forum Credit Cards https://gcaforums.com/topic/repossession/ Fri, 22 Nov 2024 13:20:01 +0000 Repossession

Can anyone on the boards tell me how much will ones credit score take a dive due to a auto repossession? Just curious to know. Will it be hard to get another auto loan after that.

]]> 52359f66c04b8d9d572556a8dd774cd0 Ava Coleman posted an update: If I take a loan from my 401k for a down payment, does […] https://gcaforums.com/activity/p/20596/ Fri, 22 Nov 2024 13:17:12 +0000 If I take a loan from my 401k for a down payment, does the mortgage lender factor that into my debt/income ratio? Conversely, does a lender consider my 401k balance into my assets? I am not going to have 20% to put down and figure borrowing from my 401k is better than a 2nd mortgage or PMI

]]> 1 3e15e14083c39a165e793b7716204762 Hunter replied to the discussion TEXAS NMLS MLO LICENSE in the forum Mortgage Training and Education Licensing https://gcaforums.com/topic/texas-nmls-mlo-license/#post-23064 Thu, 21 Nov 2024 22:11:20 +0000 Reply to TEXAS NMLS MLO LICENSE

To receive an MLO (Mortgage Loan Originator) license in Texas, one must qualify for specific criteria, such as criminal history and debts.

Therefore, you need to keep the following in mind:

Credit History Requirements

Credit Check: During the stamping process for having all the licenses, you should be prepared for a credit check as it is…

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]]> 4ed42250fc195738b9f06cad1f1c6416 Allan Kim started the discussion NON-QM Loans in the forum Non-QM Loans https://gcaforums.com/topic/non-qm-loans-2/ Thu, 21 Nov 2024 20:57:35 +0000 NON-QM Loans

What rates should I expect and how long will it take to close and what do I need to show for getting approved for Non-QM loan for a house (Sale Price $680 K)

* My Mortgage Scores are 720+

* Last year gross business income $853K

* Business Checking has over $150K

* Self Employed since 2007 running the same company.

]]> 31865a6c7210182a624e19c7f61cb33c Allan Kim started the discussion Chapter 13 Bankruptcy Dismissal in the forum Mortgage During and After Chapter 13 Bankruptcy https://gcaforums.com/topic/chapter-13-bankruptcy-dismissal/ Thu, 21 Nov 2024 20:55:31 +0000 Chapter 13 Bankruptcy Dismissal

Live in Missouri and if my bankruptcy is dismissed how long do I have to wait to get a cash out refinance?

]]> de9f256bce443b843038c8367b5ea628 Allan Kim started the discussion HOME PURCHASE, in the forum Home Purchase https://gcaforums.com/topic/home-purchase-2/ Thu, 21 Nov 2024 20:53:29 +0000 HOME PURCHASE,

Renting a home for two years, the owner decided to sell to me via notice to vacate. I have bad credit, owe taxes and zero for a down payment. What are my options in Michigan.

]]> 699d2dd6a88ca863ec491f1c3260281f Allan Kim started the discussion Can rental income of this 4 unit be used to reduce the mortgage payment in the forum HUD Two-to-Four Unit Multi-Family Guidelines https://gcaforums.com/topic/on-4-unit-owner-fha-loan-can-rental-income-of-this-4-unit-be-used-to-r/ Thu, 21 Nov 2024 20:50:24 +0000 Can rental income of this 4 unit be used to reduce the mortgage payment

On 4 UNIT Owner Occupied FHA loan. Can rental income of this 4 unit be used to reduce the Mortgage Payment.

]]> 66dd34bbc1ac02e993801be3465a0b63 Allan Kim started the discussion Mortgage After Foreclosure and Bankruptcy in the forum Mortgage After Bankruptcy And Foreclosure https://gcaforums.com/topic/mortgage-after-foreclosure-and-bankruptcy/ Thu, 21 Nov 2024 20:46:56 +0000 Mortgage After Foreclosure and Bankruptcy

We live in NC and filed a Chapter 7 bankruptcy on our business, and a Chapter 11 on the personal side after COVID closed our business. Both my husband and I had upper 700’s for credit before. Ch11 was confirmed on Feb ’21, and the final decree was issued on 11/12/21. We have a home mortgage

and HELOC, as well as our SBA loan debt…

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]]> 866043a6440433b3919a2ebce249acab Allan Kim started the discussion Waiting Period After Chapter 13 Repayment in the forum Mortgage During and After Chapter 13 Bankruptcy https://gcaforums.com/topic/waiting-period-after-chapter-13-repayment/ Thu, 21 Nov 2024 20:18:56 +0000 Waiting Period After Chapter 13 Repayment

Am I potentially able to obtain a mortgage at this time while I am nearing the end of my Chapter 13 Bankruptcy repayment and will get discharged in six months? Or do I need to wait 2 years from the date of discharge of my Chapter 13?

]]> 39a7767c7bcc62eb3af501b81131964c Allan Kim started the discussion NON-QM Loans vs Hard Money Loans in the forum Non-QM Loans https://gcaforums.com/topic/non-qm-loans-vs-hard-money-loans/ Thu, 21 Nov 2024 20:16:08 +0000 NON-QM Loans vs Hard Money Loans

Are non-QM loans hard money loans? What is the difference between NON-QM Loans vs Hard Money Loans?

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