2006-09-18 12:18:20 · 8 answers · asked by grundsty_83 1 in Business & Finance ➔ Credit
It's possible, but you'll pay 12%+ interest (maybe closer to 14%), so you won't be able to afford much. They'll require you pay any open collections or judgments before you get the mortgage.
2006-09-18 12:22:50 · answer #1 · answered by Dwight D J 5 · 0⤊ 0⤋
it is a confusing question to respond to. I were a private loan broking service for over 3 yrs and that i have not considered a economic company lend to someone with a 520 score with out money Down, fantastically now. Banks used to attempt this years in the past yet with the foreclosures expenditures increasing at an all time severe interior the most suitable year and in reality persevering with to strengthen, you received't have a ordinary time getting a No money Down domicile. My suggestion must be to drag your credit status, see why its so low. restoration it! once you get the score to a 580 and above, economic company will be more advantageous than satisfied to furnish you a 100% Financed mortgage. indexed below are the belongings you should do to fix your credit. Get a mastercard, make expenditures on it and pay them off, attempt this for some months, than get yet another one and do an analogous aspect. you want to educate to the banks and creditors that you've mounted the rut you fell into and that your getting back heading in the right direction. it really is between the in reality strategies to do it. educate that you're credit worth!
2016-11-27 23:22:15 · answer #2 · answered by ? 4 · 0⤊ 0⤋
You have to be more creative than bank/mortgage company financing.
How about looking for a land contract deal from a for sale by owner.
Or owner providing a second mortgage for 35%.
With 520 score your options are more limited.
YOu have to remember closing costs, escrows, insurance, title, etc.
If you can get a fat appraisal above the sales price of the house you can work some deals.
It will take some effort
2006-09-20 12:29:28 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You don’t have to live with poor credit scores or derogatory public records anymore.
There is a lobbying group called JONAS that repairs credit reports with the assistance of a federal agency. They have been successful in removing liens, judgments, bankruptcies, charge-offs, etc. from credit reports.
They also have been successful in getting judgments voided and liens removed from public records based on the findings of the federal agency.
If you want more info on JONAS, email me at white_hare@hotmail.com
2006-09-22 09:54:12 · answer #4 · answered by rockin_in_vegas 1 · 0⤊ 0⤋
try attending a home buying program to get some resources and things of that nature. the other poster is right,.you might pay a higher interest rate due to your credit rating and score.
2006-09-18 12:26:41 · answer #5 · answered by MiaDiva28 6 · 0⤊ 0⤋
If you can get a loan, it'll cost you plenty in the interest rate. Check out the non-profit agency below for down payment assistance. Even if they cannot help you they can refer you to lending institutions and suggest ways to improve your credit score. Let's face it... they are professionals.
2006-09-18 12:48:07 · answer #6 · answered by Anonymous · 0⤊ 1⤋
Yeah, but your interest is going to be above what the bank is advertising the loan for. I think you have to have at least 720 to get what the bank advertising. Good luck.
2006-09-18 12:25:52 · answer #7 · answered by Cammi 3 · 0⤊ 0⤋
Yes. In Irak.
2006-09-18 12:26:24 · answer #8 · answered by Beto 3 · 0⤊ 0⤋