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| *Loan,banking and credit>>>bad credit mortgage |
I have bad credit but I want to purchase a house what mortgage company should I try and why? |
I have bad credit but I want to purchase a house what mortgage company should I try and why? Go and see a financial adviser - we had bad credit and went to see one for advice. He was free and managed to get us a mortgage, pay our debts off and save money every month. He was paid commission by the bank we took our mortgage with but he got paid the same fee with every bank so wasn't pushing a bad mortgage on to us and wasn't tied in to one particular bank. Definitely worth going. lign="right" > Sign in to vote! There are many banks that lend to people with bad credit (including people with bankruptcies), they are called B lenders. You may find one through your local mortgage broker. The catch is that their interest rates are much higher than a normal lender's, they may charge you more points during closing and they will often require at least a 10% down-payment, although you may find some that will finance 100% of the purchase. One bank you may start with is Green Point at: http://www.greenpointservice.com/... Used to be a mortgage loan officer. lign="right" > Sign in to vote! Just find how and when can u repay. Then only go for a fresh loan. lign="right" > Sign in to vote! |
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