my husband and I both have %26quot;poor%26quot; credit. I talked to the mortgage advisor and he said there is still a possiblity of us getting a loan. Just curious if anyone has any info on purchasing a home. Were first time buyers and are looking to buy in Chalmette, La. Which was destroyed by Katrina. They have thousands of homes for sale which are pretty cheap.
Me and my husband are in the process of filling out a loan application for a home purchase. Although,?
The more of a downpayment you have, the more leverage you have in obtaining a loan. Also, if the home is in poor shape you will have to put a minimum 20% downpayment. Try some FHA loans if possible, they are somewhat forgiving when it comes to credit.
Me and my husband are in the process of filling out a loan application for a home purchase. Although,?
define poor credit. You should be able to get your credit score so you can shop different lenders. Insist they provide you with the proof that your score is poor.
Take that info to 10 different lenders and go with the one you like best.
Me and my husband are in the process of filling out a loan application for a home purchase. Although,?
Unless you have a score under 500 (and even then) you can get loan. high interest rate though, be prepared. answer questions honestly and do not inflate income. 620 and over no problem. be sure house you buy appraises 20% above asking price or walk away is good rule of thunb especially in depressed areas
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