ok i have verry bad credit and iwant to try and get a loan to buy a home where can i go?
and how can i go by getting it is it even possible to get a home loan if u have bad credit?
2007-08-10 11:26:20 · 5 answers · asked by i miss you 1 in Business & Finance ➔ Renting & Real Estate
Depends on how bad it is, but if it's really very bad, then about the only way you'll get a loan for a house is from relatives.
And please don't fall for any answers you get here or find elsewhere on the Internet who offer to find you a loan if you'll just pay their application fee - unless you have money (the fee) that you just want to throw away by getting scammed.
2007-08-10 11:59:37 · answer #1 · answered by Judy 7 · 1⤊ 1⤋
What you might consider is working on improving your credit history for a year, then applying with several loan companies. Chances are their rates will be high at first, but with time and good credit management you will be fine. You have to understand that a lot of the folks losing their homes today, had poor credit most likely and not look what a mess we have. So work on getting your credit history repaired.
2007-08-10 19:24:10 · answer #2 · answered by Alterfemego 7 · 1⤊ 0⤋
Look for a distressed home owner, lsome have lost their jobs and can't make their mortgage payments. Maybe get some owner financing if you have a down payment to offer. And check into a rent to own purchase agreement at least until your credit improves.
2007-08-10 19:41:41 · answer #3 · answered by upside down 4 · 0⤊ 0⤋
If you have bad credit, you probably shouldn't buy a house. Mr Larry Thompson will own it as soon as you can't make the payment.
2007-08-10 19:27:23 · answer #4 · answered by Anonymous · 1⤊ 0⤋
it is possible, but you'll have to pay a much higher APR...i'd google bad credit home loans and pick a company and call them.
2007-08-10 18:34:22 · answer #5 · answered by Jules 5 · 0⤊ 1⤋