My credit is damaged and i have come to the end of my contract with my landlord that states i must now purchase this house...i have just come out of a divorce/bankruptcy, and need help please! I just need someone who will let me make a fresh start here, i live in n.e. ohio, if that helps. any SERIOUS info will be very much appreciated.
2007-01-02 14:32:20 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Also look into FHA loans. They often have good programs to get people into homes. Bad credit and 1st time buyer programs etc. Try to find someone who has done a few of them and knows them well. The Ohio state web site should also have some info. You could also see if the landlord would consider "owner financing" Good Luck
2007-01-02 14:44:18 · answer #1 · answered by MainlandMig 2 · 0⤊ 0⤋
I am 20 yrs old a year or so ago my credit score was 600 I tried to obtain a loan on a duplex which cost 148,000 I did stated income 0 down no doc whatsoever they wouldn't give me the loan. Then I worked on my credit score for 4 months and got it up to 690-700 right away they approved me for the loan w/ 0 down and stated income. And my interest rate was still pretty high considering the fact that I did stated and 0 down. So bellow 500 unless you have a lot of money to put down I doubt it. But anything is possible your best bet is calling a mortgage company like countrywide and talk to a broker, he'll tell you what's up for sure. Good luck!
2007-01-02 14:56:09 · answer #2 · answered by Dispirited 2 · 0⤊ 0⤋
I was in a similar situation - divorce & bankruptcy - try meritage mortgage.
Also, if you contact a mortgage broker, they can point you in the direction of several companies, but it'll cost you. The fee can be rolled into the mortgage so that you're still at $0 down.
You'll still need to have earnest money and inspection money.
Good luck!
2007-01-02 14:37:25 · answer #3 · answered by LifesAMystery 3 · 0⤊ 0⤋
Sorry, yet i think of it is going to be perplexing to get authorized. i think of the superb wager is to locate a private loan broking provider who has some adventure in this section. yet you're able to desire to be carefull with prepaying for purposes or different costs, and confirm you examine each and every of the words and circumstances.
2016-10-06 08:56:06 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Try countrywide.
Also, there are federal grants that you can receive for your downpayment if needed.
Try FHA.org or .com
You might have to google it..
It is called first time home owners associations. Good Luck!
2007-01-02 14:41:09 · answer #5 · answered by brit 2 · 0⤊ 0⤋
The interest rate will probably be through the roof. I wouldn't do it unless you plan on selling it right away. Otherwise, you'll pay a lot more.
2007-01-02 14:41:35 · answer #6 · answered by patient X 3 · 0⤊ 0⤋
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2007-01-02 14:44:44 · answer #7 · answered by Anonymous · 0⤊ 0⤋