trying to purchase a home and everyone has rejected me to include VA since i am in the military. But if anyone has a good site let me in.Ive went through all the big companies such as lending tree ditech beneficial. Thanks in advance for your help
2007-02-01 10:37:17 · 7 answers · asked by d_smoooth2002 1 in Business & Finance ➔ Credit
Try www.prosper.com You allow people to bid on giving you a loan.
2007-02-01 15:35:35 · answer #1 · answered by Nelson_DeVon 7 · 0⤊ 0⤋
You need to slow down.
VA mortgages are the best thing out there, for those who can qualify, and they're often easier to qualify for than sub-prime loans that would charge you 3-4% more interest.
Get your credit fixed up. Whoever declined your VA loan should have taken the time to tell you what needed to happen to get eligible for it. If that didn't happen, call the loan officer up and ask. If he won't take the time to tell you, ask for his manager.
Buying your first home with bad credit and a subprime mortgage is a recipe for foreclosure. Right now, it's estimated that 1 in 3 subprime loans will be in default in the next 12-18 months. Don't let that be you.
Just as a comparison: VA offers 100% financing, no minimum credit score, typically just need 12 months of clean credit history. You finance 2-3% on top of the 100%, which goes to the VA to guarantee your loan to the bank. No monthly mortgage insurance, rates are very very good, 30 year fixed rate is standard. As of today, 6.00-6.5% for a fixed rate loan.
Subprime: With a 580 credit score, 100% financing, you'd likely be at 9.25% or higher, on a 2-3 year fixed rate adjustable loan, with a prepayment penalty to prevent you from refinancing for a couple years.
The difference in payments on a $200,000 purchase? About $375 per month, in pure interest.
Why on earth would you do that to yourself? Again, with VA, you can usually get approved with 12 months of clean credit. If you can't make it 12 months without missing a payment on anything now, you shouldn't be buying a home anyways.
2007-02-01 11:16:08 · answer #2 · answered by Anonymous · 2⤊ 0⤋
Hi,
it's not always easy to find the right companies. I've done a little research and found two which are serious and trusted with no credit checks. You might check
them out and then choose one which best suits you:
http://www.usefulresources.info/online-payday-az.html
http://www.usefulresources.info/cash-advance-cj.html
Hope that helps. Wish you all the best!
Mike
2007-02-05 08:35:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋
For Finance and credit solutions I always recommend this site where you can find all the solutions. http://SMARTFINANCESOLUTIONS.NET/index.html?src=5YAhih52VaKMtd1
RE :What is the best site for trying to obtain a loan with bad credit?
trying to purchase a home and everyone has rejected me to include VA since i am in the military. But if anyone has a good site let me in.Ive went through all the big companies such as lending tree ditech beneficial. Thanks in advance for your help
Follow 6 answers
2017-04-04 15:27:36 · answer #4 · answered by ? 6 · 0⤊ 0⤋
how about owner financing? or lease to own. Allot of people will do this because they can not sell their homes right now.... ???land contract?
DO NT pay a broker or credit scrub.. good luck my GREAT defender of our freedom!
2007-02-01 10:48:54 · answer #5 · answered by swimmyfishy 4 · 0⤊ 0⤋
This site wil give you most useful information according to your request visit http://www.freewebs.com/***********
2007-02-01 22:10:33 · answer #6 · answered by Anonymous · 0⤊ 0⤋
have a look here should help http://www.wesayes.com
do a yahoo search with this phrase
loans no matter how bad your credit is
2007-02-01 11:49:57 · answer #7 · answered by knowitall 1 · 0⤊ 1⤋