Tracy C asked:
I have encounter this home builder, who is building a house on his property. He has offered to sell me the home when it is finished for $120,000.00. My dilema is I don’t have that kind of money, so I thought maybe I could get a loan from a lender to pay for the home. I prefer to pay a bank or a mortgage company vs. paying the owner. Any suggestion, I am totally new to this.
Clyde
I have encounter this home builder, who is building a house on his property. He has offered to sell me the home when it is finished for $120,000.00. My dilema is I don’t have that kind of money, so I thought maybe I could get a loan from a lender to pay for the home. I prefer to pay a bank or a mortgage company vs. paying the owner. Any suggestion, I am totally new to this.
Clyde
Tags: Credit Score, Dilema, Lenders
you can probabely find a lender for you, especially if you’re a first time home buyer, but your interest, and mortgage, are going to be rediculously high. make sure you can afford the monthlies before you dive into it.
Yes, you could qualify for a home loan with that credit score, but not 100% financing. You’ll need a down payment. Contact Julie (a Texas lender) at
Good luck!
Not right now. That is considered subprime credit score and from all accounts on the news, that market is closed. Borrow from family/friends for a 20% down payment and get the owner to finance the rest until you can get refinanced….
not anymore. The subprime market is almost gone. You’ll need at least 590 to even apply.