Is a 0 down mortgage possible for someone with a credit score of low 500's? names people...lol?

Question

I am in a contract....need to purchase a home by april....coming out of a divorce and my credit has took several wrong turns.....and possibly ones that were'nt even there..lol

Answer 1

hook yourself up w/ a mortgage lender that can help you repair your credit. It'll take a few months (maybe up to a year) but will pay off.

Answer 2

Yes, it is possible.... it is difficult, but it is possible. I am a Mortgage Planner from the California Bay Area and I would like to see what I can do for you. If you are local, start by filling out this form:

http://www.realty-guru.com/Pre-Approval

Once I have your basic information, I will follow up with you in the next couple days to get the information I will need in order to negotiate with the banks.

Answer 3

you could construct up tradelines and get reference letters from electric powered/utilities, vehicle coverage, cellular telephone, products that do not seem on your credit record. i understand of lenders which will supply one hundred% financing and not using a credit status yet for sure you want some compensating aspects. only keep in innovations, you're maximum likely no longer taking position in fee at the same time as going from renting to possessing. i'd communicate with a loan broking service and word what may be performed for your father.

Answer 4

Sorry, but I think it is going to be difficult to get approved. I think the best bet is to find a mortgage broker who has some experience in this area. But you have to be carefull with prepaying for applications or other charges, and make sure you read all the terms and conditions.

Answer 5

it will be hard to qualify and if you did, the rate would be high.