2007-09-14 10:22:53 · 5 answers · asked by inneedofaprinter 1 in Business & Finance ➔ Renting & Real Estate
You could qualify for a FHA loan with just 3% down, depending on your credit, check with a major mortgage lender like countrywide
2007-09-14 10:27:16 · answer #1 · answered by jenny_deliah 4 · 0⤊ 0⤋
It depends on a LOT of information about you and your scenario.
In this current mortgage market, there are no easy answers: each borrower is totally different and each loan quote has to be taylored to a specific person. I'd strongly suggest that you ask your friends and family who they used for their mortgage: find someone with a good review and set up an appointment. One of the thing I do for my clients is some basic credit counsiling: we look at where they are now and where they want to be. Then we help build a plan to get them there. I'm sure you can find a broker in your area who is willing to do that with you.
Having a down payment can be key, but being is the best credit shape possible is very important too - I don't mean you have to have a super-high score, just as clean a report as you can get.
Good luck! :)
2007-09-14 10:39:55 · answer #2 · answered by Chris 6 · 1⤊ 0⤋
If you have bad credit, all you can get are really expensive financing deals. Work on improving your credit score over the next three years, then try.
2007-09-14 13:26:14 · answer #3 · answered by Bibs 7 · 1⤊ 0⤋
Upgrade yourself to enable you to get out of bad credit before considering big ticket item such as a house.
2007-09-14 10:31:21 · answer #4 · answered by SGElite 7 · 1⤊ 0⤋
make a plan for renting a house with a option to purchase. you can do it.
2007-09-14 11:55:20 · answer #5 · answered by endgame1915 3 · 0⤊ 0⤋