My fiance and i are looking into buying a home. how do i go about getting a loan?
2007-05-07 10:14:55 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
First, get your free copy of each of the 3 credit reporting bureaus' credit reports, and your scores, if possible (it might cost you a few dollars). If there is a problem with your score, find out what you can do to improve it.
Beware of subprime lenders, expecially ones who can get you a mortgage however bad your credit is. You will be in foreclosure within 2 years.
2007-05-07 10:30:24 · answer #1 · answered by thylawyer 7 · 1⤊ 0⤋
I just recently when through this. I went through a Mortgage Broker which helped me to find the correct loan for my needs and helped me to shop for the best rate. The thing you want to watch out about when trying to finance a home is to make sure that your credit isn't pulled by too many different sources as this can make your credit numbers drop each time it is pulled. Depending on your finances you may qualify for government backed services. I did a lot of research and the site www.hud.gov gave me a lot of good information to help me with buying my first home.
2007-05-07 10:26:08 · answer #2 · answered by lucky_lady_blazing 3 · 2⤊ 0⤋
Don't give Marty, the Premier Loan Shark any information. He is running a scam. Yahoo keeps booting him, but he just signed up again.
The next two posters were spot on. The issue with the subprimes is huge, they gave loans to people who could not afford them. Those people are now loosing their homes (should not have had in the first place) and this is creating HUGE problems in the entire real estate market.
2007-05-07 10:36:37 · answer #3 · answered by Anonymous · 2⤊ 1⤋
If you plan to pay back the money , you can ask for a loan at Prosper. More information at http://www.acreditlibrary.com/prosper.html . You can also try your luck at online charities, people may send donations. More information at http://www.laodn.org/
2007-05-07 17:18:56 · answer #4 · answered by chrisstophe1975 2 · 0⤊ 1⤋
This site has a lot of information on mortgages & real estate.
http://www.thestl.com
2007-05-08 13:17:13 · answer #5 · answered by stephanie k 2 · 0⤊ 0⤋