If I am approved, how much do you think I would get and how much of a downpayment would I need. I'm looking to buy a 1-2 bedroom condo in Toronto 'cos I am SICK of this renting business. Any advice is greatly appreciated.
2007-03-08 13:41:19 · 6 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Before you apply for a mortgage, you should perhaps look seriously at the behavior that has screwed up your credit rating. If you think renting sucks, you'll really hate having a mortage payment you can't afford and then losing your house.
So first, get your money behavior straightened out. This will improve your credit rating. Then shop for a house.
2007-03-08 14:13:47 · answer #1 · answered by squeezie_1999 7 · 0⤊ 0⤋
If you have the worst ever credit possible, you need to get about the business of paying off all your old bad debts while renting cheaply & SAVING for a large down payment (or, better yet, ALL of it) to buy whatever you want to live in. Second, is "owning" a condo really better than renting? I can't imagine how.
Sound financial advice that I personally follow:
2007-03-08 13:48:38 · answer #2 · answered by Tom's Mom 4 · 0⤊ 0⤋
particular. people who're financially stable, in charge, and not in debt can (and could) pay for issues with credit taking part in cards. as long as they're paid off a minimum of month-to-month - yet extra often is extra perfect, like numerous 2 weeks. credit card rewards are in many situations some million%, each so often a splash extra. Why no longer get a chit? in simple terms verify to pay the cardboard off right now. the different earnings of credit card billing is which you never omit a fee. The creditor immediately costs your card so no longer something gets forgotten or lost interior the mail.
2016-11-23 16:25:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Bad credit is one of the worst problems to have... however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-consolidation.htm
if it helps kindly remember me in your voting!.. cheers!
2007-03-09 00:36:25 · answer #4 · answered by gabriel jones 4 · 0⤊ 0⤋
You can find a lender who will give a loan to just about anyone with income if you look hard enough. You just have to expect to pay an outrageous interest rate.
2007-03-08 13:51:18 · answer #5 · answered by Brian G 6 · 0⤊ 0⤋
Exactly what sweezie says......
Examine your spending and get your money/credit under control before you consider a loan or mortgage.
2007-03-08 17:55:25 · answer #6 · answered by mslider2 6 · 0⤊ 0⤋