Question: Does anyone have any resorces on low or bad credit home loans?
I am trying to find a home loan but i dont have good credit my score is pretty low and i dont have much of a down payment does anyone know of any place i could look to mabey get a home loan in florida? I am new to the whole process and dont know what to look for a lot of places say bad credit is ok but you have to have at least a 600 credit score?? I dont know where to look anymore.
Thanks for the help.
Answer: You may qualify for an FHA loan. The down payment is low and the credit scores aren't as important.
Question: Is there such thing as a TRUE Bad Credit Home Loan?
I don't have perfect credit, neither does my husband but we are diligently paying off our bills one by one. I have been looking into loans for people with bad credit and of course they are all over the place promising a future for our family. Then I fillout the Application and whammy I'm hit with an appology notice from yet another lender. I never believed for a moment that I would never own a home, I'm not even trying to get an expensive one. I have two boys, one five, one three, a 4 1/2 month old baby girl and I am due in December. I am begining to feel hopeless and beyond frustrated, I don't want our kids growing up in apartments their whole lives, I'd like them to have their own yard someday. There are a lot of "Bad Credit" loans promising to help but they never really mean it - what gives? Can anyone help?
Answer: Bottom line go with a lender that will work for you to either get you approved for an FHA loan or a subsidiary loan based on your income. You can own a home, its just a matter of finding the right person who has a conscience about their job. There are so many programs out there for you to look into. I am with a National Lender that helps families like yours everyday by putting them in a house by using all resources in your area. If I cant put you in a house now I surely can put you on a tracker so you can buy one soon depending on your scenario. Lets get those kids of yours in a house shall we? Email me and we can get started.
Question: Bad credit home refinancing loans that are honest and reputable?
We have very poor credit and we are looking for someplace that deals with bad credit loans so that we can do some very desparate repirs to our house. Our roof leaks and the floors are falling in.Any ideas of who will give out loand to people with not so good credit that is NOT a scam? We a place but we are afraid it is a scam.They want 2000 dollars up front for their insurance before they will grant us the loan. We don't have 2grand. Any help out there??
Answer: Forget about giving some money to get a loan.
This may be a solution, I've heard it worked:
Contact a local construction/carpenter school and tell them your story. Offer them to use your
house as a real case in their courses. You won't charge them, but they do the job for free. If
they ask for money, get a local wood shop to sponsor the fees.
You have good chances.
If it doesn't work, take a look at prosper.com
Good luck !
And learn to clean your credit !
Question: What banks work well with bad credit home loans?
Answer: Let me first say, Be Careful!!! Some banks will impose extremely high interest rates on a loan with bad credit. Contact a real estate agent, who is a member of the National Association of Realtors, and find out what kind of first time home buyer programs your state offers. I'm an agent in TN and we have a program called THDA. It's a great program that offers down payment assistance as well as help towards your closing costs. The interest rates are very reasonable. Explore all of your possible financing options before you jump into signing anything. Also, when purchasing a home, you should ALWAYS be represented by an real estate professional! It costs you absolutely nothing and you have someone knowledgeable to represent your best interests so you don't get taken advantage of. Good Luck on your purchase. I hope I helped you answer your question.
Question: Best site for bad credit home loans(purchase)?Husband had HeartAttack,I don't work-you do the math-credit sux!
I need help NOW!!! Horrible situation...Anyone want to give to a good cause??? Probably not but I am only 31 with 2 small kids...Need info in order to buy the house we are in right now.. I only need to find a mortgage for 65% of the current value...Any suggestions? Any generous rich people?
In response to the last answer I received, I am no idiot...I am an educated person who knows that income is what pays the mortgage.My husband is back to work and making ample money to cover the mortgage we need.Our credit was great until he was out of work for 18 weeks.You try cutting your income to virtually zero and see how you fair.This is a legitimate question in search of a mortgage site to obtain a mortgage we can afford.
Answer: what is your credit score? 65% shouldn't be too hard to do if you are above 520. If you are below that you might try a private loan. If you're above 520 here are some options, though it will depend on the state you live in as to who can do the loan, Argent, Countrywide, a very good mortgage broker you might try is Stashin Mortage Services Inc stashinmortgageservicesinc.com they can do loans in Washington, Oregon, Nevada, and a few other states, ask for John, he's honest and hard working, if he can't help he might be able to tell you who can. I hope this helps.
Question: Bad credit home loans?
My wife and i want to get out of our apartment in febuary, but we did a debt relief program that we are still in, and will be in in feb. We both have terrible credit now under 520, is it possible to get a home loan? we are going to hope fully buy in the 115-120 k range . any advice would help.
Answer: With the current state of the market, it will be almost impossible to predict what will be available to you in February. I will however give you some advice and a little inside info. The amount of money you can stash away for a down payment should be your top priority. In your case, you will need one. The more you put away, the better your chances of getting a loan. Your lender will require that you have some down payment (usually 10% down) and you will probably need a little help. There are lenders out there that will lend up to 65% to 70% of the purchase price of a home at a very high interest rate 13%+. If you are lucky, you might even get up to 80% but that depends if those lenders are still around in February. You will also have to ask the seller to carry a note for the amount you can't cover with the loan and the down payment. We'll take the worst case scenario other than being flat out turned down. You get a loan for 65% of the purchase price. That would be about $78,000 in your case. You have 10% down (hopefully) which is $12,000. You would ask the seller to do a seller carried second mortgage. This means that the seller would be willing to take payments on the remaining balance ($30,000) at a certain interest rate over a certain term in the form of a second mortgage. Usually 15 or 30 years. Best case probably is you get 80% financing. That would mean that your seller would only have to do a 10% ($12,000) seller carried second mortgage. Everything else stays the same. SO every month you would have 2 mortgage payments. One to the institutional lender on your first mortgage and the second to the seller on your second mortgage. Impossible? You would be surprised. It happens all the time and most of the nation is looking at a tremendous buyers market so sellers are willing to get very creative. You could also do whats called a lease to own. They are usually heavily in the sellers favor but can be used to puchase a home. There is also what are called wrap around mortgages that allow you to pay an actual mortgage payment every month without having to get a institutional loan. In many states, they actually allow you to be on title when the transaction is complete. Many counties, cities, and non-profit organizations have what are called down payment assistance programs. They will loan you funds to purchase a home and in some cases the loans do not have to be repaid. If those are not viable then there is always ACORN Housing. I attached the link. Be sure to check with your attorney or a good mortgage broker in your area since laws very from state to state.
Question: Does anyone know of a company that will give bad credit home loans without a huge down payment?
Answer: how bad is your credit? and someone might give you loan but the interest rate will be really high, and your monthly payment will mostly go to interest..
Question: Please help me get a bad credit home loan?
I have a credit score under a 400 from somebody else using my idenity. I make about 65,000 dollars a year but yet I cannot buy a home for my wife and children. Does anybody know who I can go through that isnt a scam it woould be greatly appreciated.
answer: If you filled out fraud papers then most of that should come off your credit report. My fiance had that same problem. He was making 90k a year but his sister got all kinds of stuff in his name and then didn't pay. I think he should have pressed charges then but he doesn't want his sister to go to jail. Needless to say we can't buy a house either.
Question: Can you get a home loan with bad credit with a co-borrower with good credit?
I am looking to get a home loan. My credit is pretty bad filed bankruptcy about 3.5 yrs ago. My income to debt ratio is pretty good though. I also am going to have a co-borrower that has perfect credit. What companies would you recomend that would approve me and give me the best interest rate for my stiuation.
Answer: You will just have to shop around for the right loan. One thing the lenders will ask is if you were Released from the Bankruptcy...
Then too sometimes with husbands and wives if one or the other has bad credit they will finance the property with using 1 or the other on the loan and the note and not putting the other on the loan but putting them on the Deed to the property...
You just need to check around for the right lender and explain all the situation in person and take your co-borrower along...
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