|
|
| *Loan,banking and credit>>>mortgage loan |
Need to find a mortgage but the credit score is a 530, where can i find a $50,000 loan for a NY state resident |
trying to help a friend, mortgage brokers are welcome If your friend goes with an FHA loan, the credit score doesn't really matter, as long as they have the 3% down (or they can see if they can get down payment assistance and put nothing down), have a job, and verifiable income, and a bank account, tax returns, and minimal debt. Basically they want to see that even if your credit isn't that great, you make enough money to pay, and you aren't strapped in debt. When we bought our first house, I had no credit and my husband had about the same score as your friend, but we had no problems. Find a reputable lender in the area, ask the real estate agent who they would recommend. Good luck & happy house hunting. With that credit score, it would depend on your Loan to Value (LTV). The higher the credit score, the closer you can purchase a property at 100%. The lower the score, the less you can purchase against the equity in your home. With a 530 fico, expect to pay higher interest rates. Your friend's rate will likely be very high. He would qualify for a subprime loan as long as he/she meets their criteria. The lowest score that qualifies is 500. Your friend should get multiple offers when she does decide to apply so that she can select the loan with the best terms. The good news is that all applications submitted within a 45 day period will count as only one inquiry on the credit report. http://www.managedebttoday.com/home_equi... Maybe you can try below website to get the information. It's about bad credit mortgage loans articles for your second opinion http://www.d-best-free-credit-report.com... This site wil give you most useful information about loans from worldwide banks visit http://www.freewebs.com/***********... |
| Tags |
| mortgage loan consolidation loan commercial loan auto loan fha loan payday loan |
SiteMap--Copyright/IP Policy--Contact Webmaster For personal non-commercial use only. |