Does anyone know any Mortgage Company that is doing loan 100% financing, 0 down to people with a credit score of 600-605?
2007-03-02 02:34:38 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
I know we can with atleast a 600 score. Shoot me an email if you're interested.
2007-03-02 12:11:46 · answer #1 · answered by Phil H 2 · 0⤊ 0⤋
I been in the Banking, Collections, Mortgage, and Lending Business for 7 years But I'm now active duty military...Nevermand the people that are always trying to solicit their business to you...
You can get 100% Financing with $0 down.
1. When looking for a home get Pre-Qualified from a Bank, Lender, Broker, etc...(Plenty of them)
2. If you're applying for a FHA loan (First Time Home Buyer) you only need 2 lines of credit (car, credit cart, loan, etc)
3. Despite your credit score, their are ways to work around getting you 100%
4. As for $0 closing costs...When making your contract with the seller or with a trusted Realtor; request a 6% seller concession,
and that will assistance in a huge part of your closing costs, if not all.
Example:
Home cost: 250K
Seller pays 6% towards closing = $15,000 paid for by the seller at closing...
I hope this information was helpful!
Regards,
FinanceYourWay.com
2007-03-02 03:22:27 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Totally agree with "bostonian". With housing craze in last 4 years or so, many people bought houses that they really can't afford in real situation. To support those people who cannot afford to buy, financing people made "creative loans" like, 0 down, 45 year loan, interest only loan, reverse mortgage loan, 5 year ARM, etc. But now, with higher interest rate, many people I know, they are stuck, because they are having hard time making a payment. Many are considering short sale, foreclosure, bankruptcy. I'm not saying don't buy, but go over your financial situation, and what if situations, like if you lost your job, do you have enough savings to last 3 to 6 months, etc.
2007-03-02 02:50:21 · answer #3 · answered by Pluto 3 · 0⤊ 0⤋
With that FICO you're probalby going to need the services of a mortgage broker. Lenders are out there who will do business with you but I must caution you that your rates and fees will be VERY high. Make sure that you can actually afford the payments before you take the plunge!
2007-03-02 02:40:02 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 0⤋
That will be easy- you can get 100% financing with 580 and no docs
Indymac does it for sure... Call a local mortgage broker who has time to treat you right.
2007-03-02 02:38:51 · answer #5 · answered by bordercenturion 2 · 0⤊ 1⤋
Piece of cake, i have several lenders who will fight for the opportunity allowing us to play them off against one another. Email me
2007-03-02 03:03:17 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Go to lendingtree.com. No docs means you will have a higher interest rate, plus your PMI will be high, too.
2007-03-02 02:42:20 · answer #7 · answered by Anonymous · 0⤊ 0⤋