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| *Loan,banking and credit>>>bad credit mortgage |
I have the worst credit rating possible, is it still possible for me to get a mortgage? I earn approx $60.000? |
If I am approved, how much do you think I would get and how much of a downpayment would I need. I'm looking to buy a 1-2 bedroom condo in Toronto 'cos I am SICK of this renting business. Any advice is greatly appreciated. If you have the worst ever credit possible, you need to get about the business of paying off all your old bad debts while renting cheaply & SAVING for a large down payment (or, better yet, ALL of it) to buy whatever you want to live in. Second, is "owning" a condo really better than renting? I can't imagine how. Sound financial advice that I personally follow: www.daveramsey.com lign="right" > Sign in to vote! You can find a lender who will give a loan to just about anyone with income if you look hard enough. You just have to expect to pay an outrageous interest rate. lign="right" > Sign in to vote! Before you apply for a mortgage, you should perhaps look seriously at the behavior that has screwed up your credit rating. If you think renting sucks, you'll really hate having a mortage payment you can't afford and then losing your house. So first, get your money behavior straightened out. This will improve your credit rating. Then shop for a house. lign="right" > Sign in to vote! |
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