Archive for April, 2008
Can anyone recommend a bank or mortgage company that approves home loans for people with not so good credit?
Wednesday, April 30th, 2008Can I get a 100% home loan with a credit score of 627?
Monday, April 28th, 2008
da_red12 asked:
Was told by a mortgage broker that I would qualify for a 100% 2/1 buydown mortgage starting at 4.5% for first year, 5.5% for 2nd year and 6.6% for years 3-30. My credit score is 627 with good income and good debt/income ratio. The interest rate seems too good to be true for my credit score. Should I be skeptical? (The mortgage broker is the preferred lender of many new subdivisions in my area and nothing derogatory with bbb.org)
Oscar
Was told by a mortgage broker that I would qualify for a 100% 2/1 buydown mortgage starting at 4.5% for first year, 5.5% for 2nd year and 6.6% for years 3-30. My credit score is 627 with good income and good debt/income ratio. The interest rate seems too good to be true for my credit score. Should I be skeptical? (The mortgage broker is the preferred lender of many new subdivisions in my area and nothing derogatory with bbb.org)
Oscar
Is there such a loan mortgage to refinance a home with people with bad credit?
Thursday, April 24th, 2008
dhsbc/net asked:
intrest rate went up but having difficulty making payments and lowering my credit score
Lillian
intrest rate went up but having difficulty making payments and lowering my credit score
Lillian
How can you get a mortgage loan with bad credit?
Thursday, April 17th, 2008
Brandon D asked:
I have been trying for several month to get a loan for a new home, but I have had no success at all. Everybody that I contact or apply with give me the same answer all the time, which is ” Sorry we can’t help you at this time due to your poor credit rating. If no one will give you a chance then how can you fix your credit situation? I have been employed for the past five years with the same company. I don’t make a whole lot a year. I make about $40,000 a year. I think I can afford a new mortgage. I would like for my children to grow up in a better situation than I did. I admit I have made some mistakes financially, but are those mistakes going to haunt me forever? I just want a chance to live the American dream of home ownership. Please don’t mention credit repair, I have tried those companies and my credit sitiuation is was worse after I finished the repair program. If you do not have positive input please don’t respond to this question. Rip-off artist need not respond.
Ruben
I have been trying for several month to get a loan for a new home, but I have had no success at all. Everybody that I contact or apply with give me the same answer all the time, which is ” Sorry we can’t help you at this time due to your poor credit rating. If no one will give you a chance then how can you fix your credit situation? I have been employed for the past five years with the same company. I don’t make a whole lot a year. I make about $40,000 a year. I think I can afford a new mortgage. I would like for my children to grow up in a better situation than I did. I admit I have made some mistakes financially, but are those mistakes going to haunt me forever? I just want a chance to live the American dream of home ownership. Please don’t mention credit repair, I have tried those companies and my credit sitiuation is was worse after I finished the repair program. If you do not have positive input please don’t respond to this question. Rip-off artist need not respond.
Ruben
Is there a mortgage company that would give a home loan to an elderly person on a fixed income?
Monday, April 14th, 2008
nicole_la asked:
My grandmother is trying to buy a home, she is living on a fixed income and is having trouble finding a mortgage company to give her a loan for a $60,000.00 home. She has a $10,000.00 down payment and good credit and we live in the Pittsburgh, Pa area. Does anyone have any suggestions…..
Denise
My grandmother is trying to buy a home, she is living on a fixed income and is having trouble finding a mortgage company to give her a loan for a $60,000.00 home. She has a $10,000.00 down payment and good credit and we live in the Pittsburgh, Pa area. Does anyone have any suggestions…..
Denise
How difficult is it to get a home mortgage loan?
Monday, April 14th, 2008
kelly m asked:
I am looking to get a loan for a modular home and a piece of land. We would need about 250,000. My husband claimed bankruptcy in 2001 before we were married. I have good credit and make close to $60,000. However, I do have a few credit cards and a student loan to pay. He makes about 35,000, has limited credit cards and a car loan. For the most part we both pay our bills on time. Do you think the bank will even consider giving us a loan?
Gertrude
I am looking to get a loan for a modular home and a piece of land. We would need about 250,000. My husband claimed bankruptcy in 2001 before we were married. I have good credit and make close to $60,000. However, I do have a few credit cards and a student loan to pay. He makes about 35,000, has limited credit cards and a car loan. For the most part we both pay our bills on time. Do you think the bank will even consider giving us a loan?
Gertrude
Home mortgage: Making down payment using credit card offer?
Thursday, April 10th, 2008
qadata asked:
History: This person applied for home mortgage loan 7 months ago. At that time he did not have any liabilities/loans and had funds in his bank account too.
History: This person applied for home mortgage loan 7 months ago. At that time he did not have any liabilities/loans and had funds in his bank account too.
Bank went through loan approval process and approved this person for several types of loans (80/20, 80/15/5, etc) after looking into salary, bank statements, etc. This person went ahead and signed a contract with builder to build a new house.
Things have changed and now this person does not have money to make even 5% down and still wants to proceed with home purchse since there are enough credit card balance transfer offers he can use to make 5% or even 20% down without a problem.
I guess my question is would bank have any issues with down payment using credit card balance transfer? Is there a possibility bank would know this person ows money to a credit card company (if not timed properly since they are going to run a credit report again)? Has anybody done it before? any legal issues with this approach?
Thanks!
QAData
Anthony
I have one $30,000.00 credit card debit and a mortgage of 62,000 dollars loan with a home value worth 109,000.
Tuesday, April 8th, 2008
kona d asked:
What should I do? I need to pay my credit card. I make 4k a month take home. Please help me I am a Marine and need some advice. My credit card bill is accumalating 260.00 in intrest each month. Like I said just one credit card with Navy Federal and Mortgage loan with Navy Federal as well.
Viola
What should I do? I need to pay my credit card. I make 4k a month take home. Please help me I am a Marine and need some advice. My credit card bill is accumalating 260.00 in intrest each month. Like I said just one credit card with Navy Federal and Mortgage loan with Navy Federal as well.
Viola
What interest rate can I expect on a mortgage loan with my credit scores?
Monday, April 7th, 2008
PrincessB asked:
What interest rate can I expect on a mortgage loan with my credit scores?
Today I have 564 588 654…I am hoping to have my mid-score up 10 pts by tomorrow, and then i am applying for the loan with the bank. I want a fixed rate, 100% financing, 30 yr loan for $160,000. My income and debt ratios are good. I am closing on the Aug 6th. I have already had the house appraised at $162K, I am paying over $5K in closing costs, and the house has been inspected. This is my first home purchase, is there anything I am missing?
Debbie
What interest rate can I expect on a mortgage loan with my credit scores?
Today I have 564 588 654…I am hoping to have my mid-score up 10 pts by tomorrow, and then i am applying for the loan with the bank. I want a fixed rate, 100% financing, 30 yr loan for $160,000. My income and debt ratios are good. I am closing on the Aug 6th. I have already had the house appraised at $162K, I am paying over $5K in closing costs, and the house has been inspected. This is my first home purchase, is there anything I am missing?
Debbie
I have bad credit and got approve for a Home loan?
Thursday, April 3rd, 2008
lscalder asked:
I have bad credit and got approve for a home loan so I if I can get approve for a home loan so can everyone else. Good rate too 6.7 fix for 40 yrs. I am so happy right now everyone. If you want a home loan try Apex Mortgage
website: www.lowermyinterestrate.net
First of all their are government programs such as FHA and Fannie Mae programs that a lot of Loan officers donot know about beacuse they were only trained to know subprime Loans and not government loans which are for people with bad or good credit and excellent interest rate. So fro those like me with bad credit let your loan officer know that you want a fannie Mae Program. Once the loan officer gives you the rate with the govermenent program that will be your final and true rate. I know I have a good Loan Officer so for those Loan Office who are not trained about different programs such as government programs you need to get out the industry.
Audrey
I have bad credit and got approve for a home loan so I if I can get approve for a home loan so can everyone else. Good rate too 6.7 fix for 40 yrs. I am so happy right now everyone. If you want a home loan try Apex Mortgage
website: www.lowermyinterestrate.net
First of all their are government programs such as FHA and Fannie Mae programs that a lot of Loan officers donot know about beacuse they were only trained to know subprime Loans and not government loans which are for people with bad or good credit and excellent interest rate. So fro those like me with bad credit let your loan officer know that you want a fannie Mae Program. Once the loan officer gives you the rate with the govermenent program that will be your final and true rate. I know I have a good Loan Officer so for those Loan Office who are not trained about different programs such as government programs you need to get out the industry.
Audrey
