I've been dealing with many lenders for the past 30days who gave me empty promises. I understand that my loan is consider somewhat complicated due to the fact that my mid score is appox. 542 & that I had 1X60day late on my mortgage. But why is it so hard trying to find a lender who can do a 85% LTV? I have plenty of equity but yet, I'm having a hard time being approve..is this an impossible loan?
2006-12-31 04:36:32 · 2 answers · asked by mcoopd1 1 in Business & Finance ➔ Credit
Find a mortgage broker who specializes in challenged credit. In the meantime, try to bring your score up to 580 which is usually the cut-off point for getting decent rates when refinancing.
2006-12-31 04:43:30 · answer #1 · answered by Kevin K 3 · 0⤊ 0⤋
A hard money lender could likely get it done quicker, get you into credit repair, then get you refinance through someone else at a decent rate all within 6 months.
2007-01-01 04:26:16 · answer #2 · answered by Anonymous · 0⤊ 0⤋