the same credit 519 will they give me it i just need 80,000
2007-12-25 15:26:56 · 9 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
well 519 plus 519 equals 1038 that should get 80G's!!!!!!!!!!!!!!!!
2007-12-25 15:31:07 · answer #1 · answered by rhgizmo 4 · 0⤊ 2⤋
You can get a FHA loan under the Kiddie Condo Loan program. Your blood relative can be on the loan with you but they don't have to live there for ou to get good pricing on your interest rate. You can all share tax benefits, you can use their good credit if they have it, and you can re-build your own in the process. Someone involved in the financing will need to come up with 3% of the sale price. It's a thing you can do, just find the mortgage pros experienced in FHA financing and you'll be okay. The great thing about the real estate downturn is the only people that'll be left to do mortgage loans, will be those that know what they're doing.
2007-12-25 16:06:15 · answer #2 · answered by Anonymous · 0⤊ 0⤋
This is not a good time for you to get a loan. You will always have a very high interest rate with this score. It is better for you to talk to a financial planner to find out how you can get your credit score up to the 700's. this might take 2 - 3 years. be patient and then look to buy a house. Otherwise, you could jeopardize your financial future. Susie Orman books are good for you to read first. check them out from your library.
2007-12-25 15:34:15 · answer #3 · answered by cindy abc 4 · 0⤊ 0⤋
It depends on your income, whether or not you have a bankruptcy not discharged, open collections, etc. I got mine with a score in the 500's, a girlfriend with little credit and combined income per year for both of us at 35,000. FHA first time buyer loan, 6.0 % fixed 30 yr no money down for $60,000. P.S. Get the seller to pay closing costs.
2007-12-25 15:37:20 · answer #4 · answered by Steveo 2 · 0⤊ 0⤋
What you need is a large downpayment. Banks are very wary of lending money to people with bad credit these days. Two people with bad credit do not equal one person with good credit. The only hope you have is if you can put a large amount (30%+) down and even then there are no guarantees.
2007-12-25 15:32:00 · answer #5 · answered by web_a_saur 2 · 1⤊ 0⤋
All 3 numbers are your score - each and each credit bureau has a touch distinctive formula for calculating your score. you will ought to save around for the economic employer your self for the reason that your APR relies upon on which score the economic employer makes use of (or if it makes use of all 3 the way it weights them) and what the guy banks rules are as to putting the words of the loan.
2016-10-19 22:27:06 · answer #6 · answered by ? 4 · 0⤊ 0⤋
The reason a person with poor credit needs a cosigner is the bank wants someone on the hook with the ability to pay. Finding another person with equally poor credit isn't going to help you.
2007-12-25 15:30:52 · answer #7 · answered by curtisports2 7 · 2⤊ 0⤋
if you can put down 30 % of the cost most of the time they do not look as close to your score, because you have reduced the lenders risk, 40 or 50 % down and they dont care if you were bankrupt, that is some of the lenders not all
2007-12-25 15:30:32 · answer #8 · answered by Bill 3 · 2⤊ 1⤋
ask the lender on info on FHA loan. (federal housing administration), FANNIE MAE, or GINNIE MAE.
2007-12-25 15:31:00 · answer #9 · answered by imdubdabass 2 · 1⤊ 0⤋