How can I obtain finance for a house if my credit is damaged?
2006-07-05 07:27:53 · 3 answers · asked by Maveric 1 in Business & Finance ➔ Personal Finance
I just got a nice place with zero down & lower credit (620) . . I just talked to the lender in advance to see what I would need.. he hooked me up with a realetor & got everything going. It was ALOT of work but I have been in the house for six months now & am looking forward to my credit going up from me making the payments on time . . hopefully I can refinance the house after a year or so & get my payment down since I wont be such a bad risk anymore. either way . . . just go talk to them & see what they say.
2006-07-05 07:31:03 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If your credit is damaged, you will have to pay a higher interest rate on the loan. Go to a main line mortgage broker such as countrywide or fleet. If they give you the loan, it will be with a higher interest rate since you are a higher risk. If they won't issue you the loan, go to second line lenders that lend to less credit worthy borrowers.
2006-07-05 14:32:08 · answer #2 · answered by stick man 6 · 0⤊ 0⤋
witha very high interest rate....try exceed mortgage
2006-07-05 14:30:41 · answer #3 · answered by annabanana 2 · 0⤊ 0⤋