2007-07-24 08:05:01 · 8 answers · asked by Melody J 2 in Business & Finance ➔ Renting & Real Estate
There are hundreds if not thousands of websites on the internet enumerating the ways to apply and receive home loan when you are plagued with bad credit issues. These sites help consumers with bad credit scores to increase the viability of their existing credit scores and set up loans regardless of their credit history.Companies that specialize in bad credit home loans; usually offer a wide range of options for consumers with bad creditBad credit hasn't stopped them from purchasing a home. There are several programs available for people with bad credit that helps to restore their credit status and to live debt free lives.
2007-07-24 14:44:38 · answer #1 · answered by Jhonkelly k 1 · 1⤊ 1⤋
Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.
Of course, some will cost you more money in the long run, but a home it's still one of the best investments that you can make, so, in many cases, it's worth it, especially for the first year of ownership.
You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. You can find some bad credit mortgage lenders listed on this page on and off:
http://www.axalda.info/bad-credit-mortgage.html
2007-07-25 01:43:28 · answer #2 · answered by Anonymous · 0⤊ 0⤋
There used to be quite a few that would loan to those with 580 and above, and a couple that would at lower rates, and with what is happening in the housing sub prime market many have gone out of business, the rest have tightened their lending rules. Add the rising interest rates and you basically are better off improving your credit rating, not what you want to hear but in the long run you will be better off
2007-07-24 08:20:55 · answer #3 · answered by Pengy 7 · 0⤊ 0⤋
yes. How bad is your credit? if it's 580 and higher, and you have a salaried job, there is a loan out there... Have a trusted/referred Loan Officer pull your 3 credit scores and take a complete application. If you don't qualify now, this person can at the very least give you a detailed gameplan on how to move forward and purchase in the near future. http://www.choicefinance.net/
2007-07-24 08:36:19 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Yes your county that you live in should have alot of different programs for you. It just depends on how bad your credit is. Your fico scores determine who much of a down payment or how high of an interest rate you will have. If you live in the Riverside or San Bernardino county in California area there areseveral programs. E-mail me if you have any more questions and we can talk more. Have a Blessed and Beautiful day!
2007-07-24 08:29:59 · answer #5 · answered by veronicatoledo7 1 · 0⤊ 0⤋
Yeah the FHA offers a program for people with credit over 500, I know because I have done a couple of them for people. They can even get you 100 percent financing.
2007-07-24 08:20:37 · answer #6 · answered by marxistharpist 2 · 0⤊ 1⤋
There's plenty, but you'll need a bigger down payment and/or pay a much higher interest rate.
2007-07-24 08:12:51 · answer #7 · answered by mattgo64 5 · 0⤊ 0⤋
I wouldn't say "plenty". Less and less everyday. Foreclosures are rampant!
2007-07-24 08:20:43 · answer #8 · answered by ? 4 · 0⤊ 0⤋