2007-01-01 11:32:52 · 11 answers · asked by ronniesoamazing 1 in Business & Finance ➔ Renting & Real Estate
www.naca.com
they do their own lending, they are a non-profit housing advocacy group, nation wide.
2007-01-01 12:47:28 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Yes; it depends on many factors including your credit score, value of home along with sale price, etc. There are many programs for those with low credit scores though you can secure 100% financing with a score of 580 usually. For the right property, going through a hard money lender coupled with a good credit repair program might be the right answer.
2007-01-01 15:38:30 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes you can.
plan on paying a very high interest rate.
but here are some tips to get your credit back up, whether or not you get a mortgage now- work on paying off your debt ASAP. get rid of credit cards you don't need....transfer your high balances onto other credit cards. do NOT pay anything late. this will help get your credit score back up....then you can always do a refinance a few years later, and with a good credit score, you'll get an excellent new rate on your mortgage.
2007-01-01 16:03:42 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You can still buy a house. Although, if I were you, I'd make sure I have a very large down payment if my credit score was low. This is because you are going to be charged very high interest rates for any mortgages you take out.
2007-01-01 11:38:36 · answer #4 · answered by Muga Wa Kabbz 5 · 0⤊ 1⤋
You'll need to concentrate on the loans offered for people with low credit. You will pay higher interest, but you don't want to lower your score by having a bunch of inquiries for loans you know you won't get approved for.
2007-01-01 11:36:51 · answer #5 · answered by Mariposa 7 · 0⤊ 0⤋
ronnie,
if you have a low credit score a couple of things have happened. you didn't learn to earn money, you didn't learn to keep money, you didn't learn to manage money. should you not correct these things 1st. you'll get sucker loans and terms from mortgage and bankers. you'll be out of the house within 5 yrs and in worse cash flow.
should you think this harsh? stop and reassess your reality. do you have money for down payment, closing, utilities deposits, garbage pickup, window treatments, lawn care tools, higher electric water gas costs, un scheduled layoff downsizing, car problems, etc..?
no, then an apartment is truthfully where you need to be till you get cash straight.
2007-01-01 11:59:42 · answer #6 · answered by Anonymous · 1⤊ 0⤋
There are plenty of lenders that specialize in just that. Mortgages for people with poor credit. Go to the following site and get a free mortgage quote to see how much you qualify for.
2007-01-01 12:15:59 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Yes, most mortgage brokers have lenders called "sub-prime" lenders. These lenders cater to those with low crtedit scores. They often have good rates and have inventive and helpful ways to get your mortgage funded. Dont go to the bank they only lend from themselves and dont have as many options as a broker. Most brokers can work with your bank if you ask also(or they may already) so you wont lose anythong by going to a broker.
2007-01-01 11:40:50 · answer #8 · answered by Mazlow01 2 · 1⤊ 0⤋
how low? do you have all 3 bureaus pulled? this is very important... have all 3 pulled and complete an application with an experienced Loan Officer so you can see what you qualify for and if nothing now, a game plan for the future.
2007-01-01 12:49:49 · answer #9 · answered by Anonymous · 0⤊ 0⤋
visit a bank and ask for a mortgage, they will figure out a way to get it for you, that is how they make money
2007-01-01 11:35:12 · answer #10 · answered by Anonymous · 0⤊ 0⤋