Ok, I am tried of all the scams and rip off companies and the endless sea of dead ends. I can not even get my bank to look at my contract for deed and the good payment history for 16 years. I ran intoa hardship and filed bankrupcy a year ago. I have student loans that I can not pay yet, some small collections and some medical bills. I only need a loan for $13,000 that is only 10% of the value. Circumstances require my own financing now. My house payment has always been payed on time.
Please dont flood me with opportunist, I need real awnsers and creditible advice.
Who will finance a home for poor credit people?
It should not be a problem finding someone to finance you, however there are many things that would come into play, ie credit score being the main object. If you have a score below 500 it will be very difficult. I would look at subprime mortgage companies such as Option One, First Franklin, Delta Funding, Fidelity Mortgage. You can usually get a deal done through a brokerage firm that would deal directly with one of these companies. Your loan amount may also be an issue, it is not profitable for many of these companies to do loans below 40,000 give or take.
If you have made your mortgage payment on time for the past 12mths and have a score above 500 you really should not have a problem getting what you need. Your rate will be a bit higher due to the risk.
Who will finance a home for poor credit people?
Non profit agencies will lend a hand. There are too many too mention in a format like this, but one is Habitat for Humanity, and they may be able to help you find others.
Who will finance a home for poor credit people?
Good luck finding someone to finance your loan.
We had a similar issue a few years back.........our bank lender looked at our credit rating and almost laughed out loud. After we paid off some creditors and have made our landlord happy for the past 4 years, we were able to borrow the $75,000 for the house we have lived in for those 4 years. We always had the option to buy it, but never could get the money........
You have to pay off your creditors ........I don%26#039;t think anyone will touch you for like 7 years after you file bankruptcy.
Who will finance a home for poor credit people?
Applying to mortgage brokers, your score, albeit low, may qualify for a mortgage with a sub-prime lender. The positives on sub-primes is that you don%26#039;t pay PMI on the mortgage. The cons, obviously, a little higher interest rate.
Who will finance a home for poor credit people?
How bad is your credit. What state do you live in? I am a mortgage consultant and we have over 300 lender we can go through. We have some that work with poor credit. Depending on the loan to value of your home. That is the percentage of what it is worth compared to how much you are borrowing. If you say that the loan to value is low and there is no lates on the current mortgage then I think that I would be able to help you. If you are interested in me takeing a look at you options my email is tpierce@gmipa.com or my number is toll free 1-866-637-6121 x104. We are a wholesale lender and work to get the best rates that you quailfy for.
Who will finance a home for poor credit people?
If you are trying to refi it most likely isn%26#039;t possible. If your trying to purchase this would be an easy loan for any mortgage broker. I was a broker for 4 years, that would be a cake walk. You do have to pay off open collection accounts before a bank can loan you money, but if you only need 10% you obviously have the cash. Honestly the information you gave can%26#039;t be totally accurate. With the explanation you gave it would be a pleasure for a bank to loan you money. Are you sure the home is worth $130,000?
Who will finance a home for poor credit people?
There are many programs that you might qualify for. But there is some info missing. What kind of BK? What is your score? Is it discharged, and if so then when? They will take your payment history into consideration. Have you paid by check? How much is the appraisal. There are many scams, but most people (loan professionals) just don%26#039;t do proper diligence. You might not get the LTV that you need, but you can surely get that deal done. Will depend on some other factors too, i.e. appraisal, sales price, etc.
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