interest rate!!!!
2006-08-12 09:25:16 · 13 answers · asked by hotgal3 1 in Business & Finance ➔ Credit
You can't get something for nothing.
If you need a house then get it at a high interest rate if that is all you can qualify for.
Pay your bills on time for 2 years. Do everything you can to repair your credit. Pay off your judgements, cancel the cards you don't use, be sure your reports have the information they should, have at least 4 lines of credit, have a checking a savings account and never borrow more than 1/3rd over your limit. If you are good for 2 years then you can refinance and get a better rate. Actually you could probably refinance in 12 months, but you might be better waiting until 2 years. You don't want to refinance too often.
Good luck. You will need discipline and diligence, but you can do it.
2006-08-12 12:37:07 · answer #1 · answered by Think.for.your.self 7 · 0⤊ 0⤋
there is some out there such as Beneficial Finance and a few other secondary mortgage companies but you will pay more cause you are a risk and your bad credit record already says you are not too responsible so they punish you with high fees and high interest . They make you pay fopr past behavior and also to protect them selves You would do the same thing if the role was reversed as you want to protect yourself in a high risk situation .
2006-08-12 09:31:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you live in the US and haven't owned a home for at least 3 years, you might ask your Loan Consultant to check into an FHA loan for you. This type of loan is not score driven and is geared to helping First Time Home buyers purchase a home with little money down and a competitive interest rate. You may even qualify for downpayment assistance. Please e-mail me for further information: amkornele@yahoo.com.
Best of Luck!
Anne : )
2006-08-12 14:08:35 · answer #3 · answered by amkornele 3 · 0⤊ 0⤋
Not likely. People with poor credit are seen as much riskier to lend to. Becasue of that, the interest rate is much higher.
2006-08-12 10:10:24 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Keep trying, I just read there aren't too many people requesting money because eveyone already did, so home owners may be a bit more willing to work with you and morgtage companies should be competive. Good luck I am in the same boat.
2006-08-12 09:32:31 · answer #5 · answered by krs451960lovesnlc 2 · 0⤊ 0⤋
unlikely, as most creditors lend people money with bad credit at a higher interest rate as they are considered a 'risk'
It normally states on the small print at the bottom of the telly advert 'interest rate is dependent on your circumstances'
2006-08-12 20:08:00 · answer #6 · answered by Rebz 5 · 0⤊ 0⤋
you're a damaging credit probability and bonafide lender's would be very reluctant to lend you any funds. loss of interest stability, and damaging investments won't provide them a heat and fuzzy feeling. Your in basic terms recourse could be to pass to intense probability lenders and pay exorbinate expenses of pastime of 30% or extra. possibly however you need to be thinking of a thank you to pay off the lenders you have already ripped off rather than attempting to borrow extra funds.
2016-10-02 00:07:39 · answer #7 · answered by ? 4 · 0⤊ 0⤋
You should not be paying double the interest rate with any lender. There are plenty of Adverse Lenders with very good rates. Need any help e mail me or contact me through www.marshallfinancial.co.uk
2006-08-14 04:36:22 · answer #8 · answered by MSMORTGAGE 3 · 0⤊ 0⤋
No. You would be a lot better off fixing your credit and then trying to get a mortgage.
2006-08-12 09:54:07 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Yes i just got a loan for379000.00 and my middle score was only 623
2006-08-12 10:01:59 · answer #10 · answered by Luckys Charm 4 · 0⤊ 0⤋