Hey paul....I want to help get your 1,000 post, so please answer this question......
what rate would a 1st time homebuyer get right now who has a 580 credit score, 55% DTI, and $4,000 cash to work with for down payment and closing costs?
Steve
Well I can't say for sure with out more background. If a vetern, good chance of mid six's, possible same if they were to qualify for a FHA program. Other then those two options, they would most likely be F'd, unless one of my lenders DU engine was turned way down and somehow got an approve eligable. Then it would probably be at a higher level i.e. 1,2, or 3 and rate would adjust accordingly.
But most likely they would be Shiss out of luck at 100% purchase! Now a year ago, lots oh options! Heh heh! I assume you would concure.