2006-08-29 07:55:39 · 13 answers · asked by Anonymous in Home & Garden ➔ Other - Home & Garden
If you can put down about 90% you should be fine. Otherwise keep renting until you can get your credit score over 620. If your score is below 500 you would not even get a loan for a trailer if you owned the land and used it for collateral.
2006-08-29 08:01:46 · answer #1 · answered by ZCT 7 · 0⤊ 0⤋
Try to save up about 5,000-10% of what the home is worth and ask an owner to take that as a down payment on an option to purchase agreement for five years. Try to get an interest rate of no more than 10.5 percent. Get the written agreement signed between you and the owner. See an attorney or real estate agent for writing up the contract. Don't worry about the interest rate at this point but be sure you can afford the payment. Make all your payments on time to the owner for two years. If you are able to obtain a loan at that time; refinance the home, pay the owner,and get a better interest rate after you have established a better credit rating. You could also ask the owner to take out a second mortgage and let you pay it back the same way.
2006-08-29 08:13:54 · answer #2 · answered by Busy Lady 2010 7 · 0⤊ 0⤋
something is available yet very unclear, As of February 2010, you could be 21 and employed complete time 12/18 months with out a co-signer, you'll even ought to teach 24 months of interest as a fashion to get a good score of 660/749.
2016-12-05 21:53:44 · answer #3 · answered by barakat 4 · 0⤊ 0⤋
No..Mine is 650 and I can't even get a home loan..You have to have really good credit or alot of money to put down before mortgage companies will touch you.
2006-08-29 08:01:41 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Very unlikely unless you put a large deposit down. You will still get a high interest rate. And you may have to prove that your financial situation has changed.
2006-08-29 08:12:49 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Not likely. Rent a while and get your credit score up or you'll be paying killer high intrest.
2006-08-29 08:11:12 · answer #6 · answered by Jessie P 6 · 0⤊ 0⤋
It depends.If you live in the U.S. and there is an ACORN housing near by you might want to try them..look it up in the Yellow pages or the phone book.Best of luck.
2006-08-29 08:00:59 · answer #7 · answered by Anonymous · 0⤊ 0⤋
not unless you have lots to put down, maybe. Go to a broker they work with lots of banks. If you find the right one they'll stick with you to help improve your score, good luck..
2006-08-29 07:59:15 · answer #8 · answered by snoogans 5 · 0⤊ 0⤋
Yes you can. ON a lease to own contract or land contract.
2006-08-29 08:00:56 · answer #9 · answered by Trollhair 6 · 0⤊ 1⤋
you would need owner financing or a land contract or something
2006-08-29 07:58:04 · answer #10 · answered by Norman 7 · 0⤊ 0⤋