2007-03-14 11:35:41 · 6 answers · asked by sparkly 4 in Business & Finance ➔ Renting & Real Estate
well it will be extremely extremely tough...BUT youre best bet is to go to a place like lendingtree.com or but in bad credit mortgage in a search engine. it's harder to get approved with local banks because they rarely use more than one lender or have more than one program.
good luck
2007-03-14 11:39:24 · answer #1 · answered by Melissa T 3 · 0⤊ 0⤋
rent until you have improved your credit and have at least 20% of the price of the home saved up for a downpayment.
then there are first time buyers programs out there such as FmHA that will help you get a good loan.
avoid ARMs and interest only loans - the mortgage industry is going to go upside down if they continue lending money to high risk folks with creative loans.
good luck!
2007-03-14 11:46:31 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You can also call a loan officer and see what type of rate you are looking at. Applications with Premier Mortgage are free. Ask for Amanda and tell her Gina referred you. Her number is 240-843-4416.
2007-03-16 06:15:58 · answer #3 · answered by glamour girl 2 · 0⤊ 0⤋
You can get a loan. Call Carl at Direct Mortgage Funders, Inc. at 818-530-2185. Website:www.dmfund.com.
2007-03-14 11:43:27 · answer #4 · answered by cj23 1 · 0⤊ 0⤋
you need a large down payment, at least 20% of the sale price AND you need to get prequalified and determine the price range of the house you can afford. Think a small condominium.
2007-03-14 11:44:10 · answer #5 · answered by Jack Chedeville 6 · 0⤊ 0⤋
Try a rent-to-own deal. Some homeowners will sell a house this way, especially if it's a home they've been renting out but thinking about selling anyway.
2007-03-14 11:43:26 · answer #6 · answered by Stimpy 7 · 0⤊ 0⤋