I was wondering if most mortgage companies or banks would make you put a down pymt. on a $59,900.00 loan for a home?
2007-01-24 04:43:50 · 4 answers · asked by shortcrazychic 2 in Business & Finance ➔ Renting & Real Estate
FYI:
I only make 480/weekly gross
so 371.91 after taxes
i can make pymts on time and I have all my pay stubs since I started work(6/25/2005)
2007-01-24 05:39:05 · update #1
one more thing-not sure on my credit-i know it is not perfect
2007-01-24 05:39:34 · update #2
100% financing is available in almost every price range, depending on your credit score, income and assets. If your credit score is above 540, most Alt-A or Non-prime lenders can structure a no down-payment loan for you, as long as you can verify your income with paystubs and verify your assets with bank statements or verifications of deposit. There are still lenders out there that will allow you to merely state income while verifying assets, however.
Remember that mortgages qualify based on your cashflow, credit and equity. If your cashflow (income and assets) and credit are stellar, then 100% financing will be available.
2007-01-24 04:55:43 · answer #1 · answered by John K 2 · 0⤊ 0⤋
Depends on your credit score if you can make your payments on time to the bank ans pay stubs to them
2007-01-24 05:03:11 · answer #2 · answered by pattibcacl 6 · 0⤊ 0⤋
Banks usually like 15% but they also will give a no money down but you pay the points. Email me if you need more info.
2007-01-24 04:53:18 · answer #3 · answered by Linda B 2 · 0⤊ 0⤋
It depends on your credit. The price of the house has nothing to do with it. Many of my clients buy houses with no money down.
2007-01-24 04:49:49 · answer #4 · answered by linkus86 7 · 0⤊ 1⤋