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| *Loan,banking and credit>>>bad credit mortgage |
Anyone know of a mortgage lender who will loan to people with bad credit? |
I had cancer a few years ago and spent 2 years fighting to get SS Disability. Things are better financially now but my credit has some delinquent medical bills on it and my score is in the low 500's. I am working on improving my credit and will continue to do so. We would like to buy a home and understand the importance of a good credit score. Does anyone have any ideas on a lender that could possibly help us. Thank you so much!! :) 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... OK - if you are willing to accept an interest rate of somewhere between 10.5 and 12 percent, yes, you can get a loan with a score as low as 520. Try CountryWide. They are a big lender. Also Wells Fargo. To do this, you will need at least a 10% downpayment, and a clear income stream, and further with a good debt to income ratio both before and after the mortgage. Get a 5/1 arm, no prepayment penalty (or at least nothing more than 1 year), and bit the bullet. If you keep your debts clean for a year, you will be able to re-finance down to the 8-9 range, and after another year, you will be a "prime" borrower" - someone above 660 again. it is POSSIBLE to get a loan witha score above 500. that doesn't mean you should. I recommend renting while you build up your credit other wise you will be paying interest rates well over 10%. Aim for a 620 which will get you in the prime lending area which will give you the best rates depending on your situation.. Home Funds Direct - if they are in your area I would give them a call. Hellow Friend, Your loan fighting is ends here. You can get all type of loans.All the world financial institution are ready to provide the loan for you. See the below website to end your loan requirement. http://xrl.us/2efr Many lenders will try to help you, but some may get you into a high interest, high fee mortgage - the kind that is fueling the current foreclosure trends we are seeing. I strongly recommend working on your credit issues first. Your money will go much farther, and you will have a lower house payment. Here is a great resource to help you with that: http://www.bankruptcymortgagebook.com/... |
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