*Loan,banking and credit>>>bad credit loan

Bad credit home loan...California?

We need to move as soon as possible. Our neighborhood is getting really bad and it's a trial everyday... so we don't have exactly the options of waiting for the housing to get better.
Guesstimation that gross income per year is $35k, $700 rent a month is what weve been paying currently.
We have friends that are moving and selling their house, I believe it's around $300k..

I understand that interest would be really bad if you dont have good credit, but we are running out of options that we'd have to deal with it...

Question is.... with government assistance (incl. w/down payment assistance), is it possible?

Check with your local housing authority for possible assistance. However, even if you obtain down payment assistance, there are many lenders that will not approve any mortgage loans with bad credit and such a huge housing shock. Mortgage loans are based on the borrowers willingness and ability to repay as demonstrated by the current and previous credit history. There are no more sub-prime lenders that I am aware of in today's market.
below is a website designed for potential home buyers to see what is needed to get loan approval.
Hope it helps Source(s): www.hud.gov
www.fanniemae.com

DE FHA Underwriter and credit analyst since 1979

Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.

Of course, some will cost you more money in the long run, but a home it's still one of the best investments that you can make, so, in many cases, it's worth it, especially for the first year of ownership.

You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. You can find some bad credit mortgage lenders listed on this page on and off:

http://www.axalda.info/bad-credit-mortga...
Hi,
I got loan from here.
http://ez-mart.biz/loans.htm