I have a very bad credit score and very little income, but can afford a small home payment. Does anyone know where I can find a company willing to approve a loan under these circumstances?
2007-03-14 14:03:06 · 9 answers · asked by bolinger81380 4 in Business & Finance ➔ Renting & Real Estate
There are so many creative loan programs out there that pretty much anyone with a pulse can get a home loan. However, if you do creative stuff to get a loan, or use a creative loan you may wind up not being able to afford your housing payment. A foreclosure is just about the worst thing that you can have on your credit report, so perhaps you'd do best to rent while your credit improves and your income increases and purchase a place when it's less of a stretch.
2007-03-18 13:35:55 · answer #1 · answered by SndChaser 5 · 0⤊ 0⤋
Try Lendingtree.com...they will send your application to alot of different finance companies that deal with credit issues. The only down side is that you will probably not qualify for 100% loan.....but you can get an 80% loan and have to have 20% down.
2007-03-14 14:13:35 · answer #2 · answered by Anita G 5 · 0⤊ 2⤋
A sub-prime lender or funder may take the risk, but you have to be able to come up with a 10% downpayment.
What about government programs like Fannie Mae or something?
2007-03-14 14:11:30 · answer #3 · answered by justbeingher 7 · 0⤊ 0⤋
seriously?
stay in the apartment.
there are companies out there who will loan you money.
it is a sucker bet for them - you lose.
bad credit = you have not learned to own your money.
little income = you haven't learned to earn.
no sane person would want to make that loan nor should you take that loan.
visit daveramsey.com to learn about your money before you become homeless.
get read and act on '48 days to work you love' so you can support your self.
read ' house buying for dummies' to see the nightmare and shafting you are trying to give yourself.
2007-03-14 14:12:13 · answer #4 · answered by Anonymous · 0⤊ 2⤋
you sure have me...i do not know...but if you find a company to do it ...you will be paying "outrageous" interests rates...you might want to re-think it...fix your credit and wait 7-10 years...that's when most things come off of your credit score...good luck
2007-03-14 14:12:28 · answer #5 · answered by Michael K 5 · 0⤊ 0⤋
Two months ago there were plenty of companies willing to lend. Now there are none. Google "subprime lending" for more details.
2007-03-14 14:13:00 · answer #6 · answered by The Man 1 · 0⤊ 0⤋
Try a loan officer ... applications are free.
240-843-4416 - ask for amanda, tell her Gina refferred you.
2007-03-16 06:13:31 · answer #7 · answered by glamour girl 2 · 0⤊ 0⤋
i think if you look into local community development organizations they could help. in philly we have neighborhood c.d. c. they have some different programs like help with downpayments if you partisipate in classes. programs to help clear up your credit. first time homeowner,low income programs. look in the local newspapersor the blue pagesof the phonebook. good luck.
2007-03-14 14:17:32 · answer #8 · answered by closeinphilly 3 · 0⤊ 1⤋
There are still many that will help you. Check out:www.dmfund.com.
2007-03-14 14:19:19 · answer #9 · answered by cj23 1 · 0⤊ 1⤋