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Are there any banks that give mortgage loans to people with bad credit?
Posted on January 23rd, 2012 No comments
Question by : Are there any banks that give mortgage loans to people with bad credit?
I am looking to buy my first home. My goal is to get to a 620 credit score but I know this will take quite some time. I was wondering if there are banks out there that give you loans to buy a home if you have bad credit or if there are programs out there that help you fix your credit to get into your first home? My best credit score of the three credit agencies is 550. The worst is 490. Please help!
Best answer:
Answer by mccarthy410
Short of having at least 20% down and paying closing costs and mortgage insurance and over 8% interest, or finding a house you can afford to pay all cash for, I don’t see it happening. I’d work on your credit and wait. I’m sorry to tell you that, I’m in the same boat and working two jobs and the goal for me is to either put as much down as possible or buy outright. You could try FHA loans and they might work with you, but I’d concentrate on getting as much down as possible or if you can, save till you can do it all cash. Sorry to sound harsh, cold and cruel, but life often is and I’m just telling you the truth.
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I need help from the folks out there who Approve Mortgage Loans?
Posted on October 8th, 2011 No comments
Question by Blitz: I need help from the folks out there who Approve Mortgage Loans?
I need some advice desparately. I am trying to get financed for a loan and am running into a problem and am not sure if I am dealing with people who don’t know what they are doing. I purchased a house in 2000. In 2003 my mortgage company (Bank A) sold my loan to another bank (Bank B). Bank B had my loan until 2005 – I sold the house. The finance company that is looking to fiinance me now (Bank C) is asking Bank B to provide them with three years of pay history and are expecting Bank B to give them Bank A’s information. Well, Bank B won’t give it to Bank C, but Bank A no longer exists. This is holding up the approval for my loan, so my questions are (1) do banks expect all banks to divulge other bank’s information like this and is is normal practice (2) why would this hold up my approval everything else is a go (3) should I be looking for another bank or is there validity to what Bank C is doing. Anyone know how this works?
Best answer:
Answer by Caliente34
Did they ask you for mortgage payment statement/ stubs? Bank B should give you payment information to Bank C. They are just trying to see if you are up to date on your payments and if you are good customer. Bank B should have Bank A’s information on your register. You should try a different lender if this issue does not end, or ask Bank C who they are talking to at Bank B and talk to them yourself. Maybe they need your permission and won’t disclose the information to the third party.
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What are the best Mortgage lenders out there with the lowest interest rates and the lowest closing costs?
Posted on September 17th, 2011 No comments
Question by Landshark: What are the best Mortgage lenders out there with the lowest interest rates and the lowest closing costs?
I’m thinking about re-financing,but the more lenders I talk to,the more confusing it seems to get.I need to find a lender who is honest and a straightshooter.I’m tired of these guys who only think for themselves first.The rat seem to be great,but then those closing costs are absolutely rediculous.Any lenders out there who charge less than the average Joe?
Best answer:
Answer by micheal j
Mrs.Monica james. a certified, reputable, logical & an accredited private lender.she loan money out to individuals in need of financial assistance.Do you have a bad credit or you are in need of money to subsidize bills?i want to use this medium to inform you that she render reliable beneficiary assistance as she’ll be glad to offer you a lend.Services Rendered include:*Refinance*Home Improvement*Inventor Loans*Auto Loans*Debt Consolidation*Line of Credit*Second Mortgage*Business Loans*Personal Loans*International LoansPlease write back If Interested.Upon your response you’ll be provided the lend application to fill.No social security and no credit observed required, 100% Guaranteed.I Look forward permitting her be of beneficiary service to you.she shall await your response at your earliest convenience.you can email her at mloans02@hotmail.com
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Is there a website that offers a list of bank/mortgage lenders per state?
Posted on September 15th, 2011 No comments
Question by to_the_hurricave: Is there a website that offers a list of bank/mortgage lenders per state?
Looking for a list of mortgage lenders and/or banks for each state. Any website out there like that?
Best answer:
Answer by Marko
Try bankrate.com . It’ll give you a lot of lenders to look at – good luck.
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are there mortgage loans that will use only your HiGHEST score?
Posted on September 7th, 2011 No comments
Question by curious1: are there mortgage loans that will use only your HiGHEST score?
I have had credit problems in the past and would like to get a 155k mortgage loan. My high score is 620 and would like to know if there are loans that will use the high score?
Best answer:
Answer by iceman
You should talk with a bond broker and let them look over all your stats. They may know a bank that will look at your highest score. Every bank is a little different. Some are real robotic and only live by regiment rules. Others take a more realistic look at your score and income done a more informed decision.
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