2007-01-22 10:43:44 · 6 answers · asked by divinemadness 4 in Business & Finance ➔ Renting & Real Estate
Select a house that is in your realistic price range - 2 - 2.5 x your annual salary.
Find a realtor. Your realtor is more used to these situations and can get you in contact with a reputable loaner who will deal with people with a tarnished credit history.
Also, be prepared to pay off EVERYTHING that you have outstanding and written off. You'd be surprised, but even people with great credit find out some weird dings when they buy another house (I found out I had a left over newspaper bill from six years previous!).
Be prepared, though. It may cost you quite a bit of money at first for PMI (mortgage insurance) until you build up some credit and equity. Once you have the equity in the house, refinance (don't get extra money!) at a lower rate and get rid of the PMI.
2007-01-22 10:50:24 · answer #1 · answered by nkroadcaptain 4 · 0⤊ 2⤋
Your choice of lender will save you a ton of time, headaches and frustration. The following site has a great free mortgage quote center so that you can see what you qualify for and make an informed decision.
2007-01-22 18:48:08 · answer #2 · answered by Anonymous · 0⤊ 0⤋
get with a broker first. Get prequalified to buy. then go shopping for your home. Make sure they are FHA /Va qualified as well as all other lending fome Fannie to sub-prime. If you are in TN of Ky I can help you.
2007-01-22 18:56:01 · answer #3 · answered by golferwhoworks 7 · 0⤊ 0⤋
www.countrywide.com
They are one of the largest lenders in US. They have special programs for low/no credit.
Best of luck
2007-01-22 18:51:21 · answer #4 · answered by Anonymous · 1⤊ 0⤋
I would love to help but I would get violated for trying to help.
2007-01-22 18:51:54 · answer #5 · answered by spiritwalker 6 · 0⤊ 0⤋
Email me and I can help you out because I can't help you on here or someone will report me.
2007-01-22 20:33:18 · answer #6 · answered by Anonymous · 0⤊ 0⤋