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

Can I get a Mortgage with bad credit?

Me and My husbands credit scores are around 540ish, We have really bad credit. The only thing we havent had is a foreclosure or bankruptcy. The only good things on our credit is a small credit card and a car loan. We found the house of our dreams for 110000, the house appraised for 123000, so we would already have some equity. would we be able to get a loan with such bad credit and no money down?

Yes you can but it will cost you alot in Interest and fees . Also it depends on what caused the bad credit plus how bad it is .

there is a chance that you could but first go talk to diffrent lenders since your scores are so low look at small name lenders i recomend first horizon they have a great staff and work hard atleast i know they did for me then talk to a realitor i recommend zipreality look them up on line they also are great and will do their best. best of luck to you
Actually, with the sub-prime market falling apart recently I don't think it is possible for anyone with a credit score lower than like 640 to get any type of a mortgage with no money down - as of like last week :-( Often times real estate agents will tell you they 'will do whatever they can' to get you financed. In reality, they are just trying to keep your business and have ABSOLUTELY NOTHING to do with loan financing. Realtors simply cannot keep up with all of the programs lenders have going on at any given time - these actually change quite frequently - they are too busy helping you to buy/sell houses to do the necessary research. Sometimes they may refer you to a loan company or brokerage, but it's not because this is necessarily the best place to go, it's just the place where they have a business relationship and they refer all of their clients here.

My husband is a mortgage broker, though and has access to dozens of different lenders. PLEASE email him at rlb@gfsdirect.com. Tell him I referred you, and he can give you a no-pressure, no-strings-attached evaluation of where you stand.

Good luck!
Hello
I am Mr Michael Snell.The Owner and General Manager of Michael Snell's Loan Investment company.We do give out all types of loan to those in need of it.Loan to those who have been swimming in the ocean of indebtedness,to those who do have been frustrated looking for loan and turned out.Look no further come to us as we do give out loan at low interest rate of 5%.And we do have two types of loan Collateral which is the secured loan and the Non Collateral which is the Unsecured type of loan.For more informations you can contact us on msloan.lenders@yahoo.com telling me the amount you need as loan and also filling the loan borrowers information below for our perusal.
1)Full Names:
2)Country:
3)Adress)
4)State
5)Sex:
6)Marital Status:
7)Occupation:
8)Phone Number:
9)Currently position in place of work:
10)Monthly income:
11)Next of Kin:
12)Loan Amount Needed:
13)Loan Duration:
14)Purpose of Loan:

As soon as you fill the form and return it, I will send you my loan terms and condition in other for us to proceed further in this transaction.
Thanks
Michael
Your credit score plays a heavy role on the interest rate you will receive for your new mortgage loan or refinancing from your lender. One major factor is how many late payments (30 days or more, 60 days or more is even worse) are on your credit report. Late payments of less than 30 days do not show up.

The second major factor is your combined credit rating from all 3 credit agencies. If your credit score is 620 or above you will probably be approved for a conforming loan
with a lower interest rate. If your credit score is below 620 you will probably be approved for a non conforming loan with a higher interest rate. Remember the lower the credit rating the higher your interest rate will be. Some lenders accept credit ratings down into the lower 500's.

A third major factor is if you claimed bankruptcy in the last 2 years. Most lenders require that your bankruptcy has been discharged for at least one year.

Remember, know your credit score before you apply for a home mortgage loan. Knowing this will help you know how much and at what rate you will qualify for. If you have a credit score above 620 I would recommend applying directly through a bank than a mortgage broker so you will not get charged brokerage fees and a bank will most likely give you the best rate.
http://www.mortgageawareness.com...
It is important for you to be extremely careful, know why certain debt settlement agencies suggest this and why you should avoid refinancing to pay credit card debt. Within this article you'll find the reasons why you should consider very carefully refinancing as a debt elimination option and a brief explanation of which paths are better on your way to financial freedom with long lasting results as opposed to those you would obtain by exchanging your credit card unsecured debt with a secured low interest refinance home loan.

Risks Of Working With Certain Debt Settlement Agencies

There are many debt settlement agencies that come from the heart of credit card issuing companies or financial institutions. These agencies where created so as to let credit card companies to recover their money and thus, even if they'll provide you with solutions to eliminate your credit card debt, that solutions may not be in your best interest.

Many of these companies would suggest you to take a refinance home loan and use your home equity to repay your credit card debt. That may seem a good solution and in some cases, it can be. However, it shouldn't be your preference, and most certainly, a debt settlement agency committed to solving your debt problems shouldn't suggest it as your first choice. Read more about it at: http://www.credit-card-gallery.com/artic...