my fico score is only 525 and I have no money down, with a good paying job? Is it unreasonable to hope that I could become a homeowner under my current circumstances? Be honest, I can take it.....
2007-06-12 05:42:23 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
OK...blunt honesty. You don't stand a chance unless you engage the services of the street corner loan shark. Since the current wave of foreclosures started, lenders have generally increased their standard for granting mortgage to about the 625 range, as a minimum. Repair your credit first, and then consider purchasing.
2007-06-12 06:24:28 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
A 3 hundred and sixty 5 days, plus in the past, you in all probability could have have been given it. no longer now. My guess w/o collateral you will ought to pay larger activity. Even on long term credit card shoppers, banks are raising costs, on no account innovations funds advances, yet for purchases. The credit crunch has already unfold previous the indoors maximum loan and vehicle sector. although you do do no longer "save your call around city", you will definitely decrease your score. No applications, discussions, and somebody you are able to desire to believe, style of like the previous days, a handshake previously an utility.
2017-01-06 10:53:37 · answer #2 · answered by Anonymous · 0⤊ 0⤋
No chance for a 100% loan, and with your score so low you would be paying very high interest rates. Take some time to build up some cash and use a company called Veracity (www.veracitycredit.com) to help raise your score.
2007-06-12 06:07:05 · answer #3 · answered by B . 2 · 0⤊ 0⤋
Your window has closed. 8 months ago, if your income would support it - no problem. Since the mis-step of the subprime lending market of late, it's just not gonna happen with that mid-score.
2007-06-12 05:52:33 · answer #4 · answered by Donald C 2 · 0⤊ 0⤋
Chances are pretty slim but if your job is representable there are stressed developers who will take the risk on you then lose their investments. GL
2007-06-12 05:55:24 · answer #5 · answered by Ray2play 5 · 0⤊ 0⤋
slim to none unless you pay a huge interest rate
2007-06-12 06:05:49 · answer #6 · answered by pops 6 · 0⤊ 0⤋
oh ok .. i got this for you...
better check it out, im pretty sure you'll discover something...
http://www.home-loan-made-ez.com/
2007-06-12 12:35:56 · answer #7 · answered by Anonymous · 0⤊ 0⤋