home loan w/ bad credit but good income.?
i have bad credit due to medical bills. i make good money and could afford my payments with ease. is there any programs for no money down with bad credit? i have found a house through fannie mae
Public Comments
- Fannie Mae should also be able to assist you with obtaining a loan for the house they helped you find.
- try fha they work with you pretty well. they dont go by your credit score. instead they go by how many collections and bad debt accounts.
- Your medical bills will follow you around like a shadow. Call each one of them, set up a payment plan, and stick to it. PS: You don't "find a house through Fannie Mae as it"s an investor of mortgage products"
- get a realtor, he should help u with the process.. good luck!!!!!!!!!
- Prosper is unlilkely to help, because they do care about credit ratings, It is a good idea for those people that want to lend out money but bad credit is bad news. I would suggest two things. Check your local government agencies. There are state, county and federal resources with just a bit of searching I am sure you can find them The second one is harder but worth it. County Sherrifs are selling at auction more and more foreclosed homes. Alot of people would be saying get the foreclosure before it happens. sometimes the owner is willing to deal. But you know who is REALLY willing to deal? The bank that is stuck with this property that did not sell at auction as the market is so depressed right now. They are even willing to sell at a loss and do whatever they must to get someone into the house and get some income and let someone else have to deal with maintenance and theft and other issues. That house they got is not an asset to the bank until they make money on it. If it sits empty and no one pays them anything and they have to pay taxes and maint too, guess what they have instead? A big fat liability. You are what the banks want, someone willing to take on the house and make a money pit into an income stream. BTW dont try to do the same for a house other than the one you want to own. The fact is the market is down. way down, and it is not likely to recover for 3 years at least. If you can afford that sort of payments by all means do it. But for me, I say get the house of your dreams, help the banks that usually stick it to you by helping yourself to thier liability, the house you want.
- our credit was and is very limited.we have some medical bills on our report to but are alse getting a home financed thru WELLS FARGO.they look at stuff like utilitiy bills,rent and any other accounts you have and your ability to make payments.not sure where you live but they do have a website on here.we are aoso getting everything financed in one lump sum.getting a house worth 103,000.good luck hope i could help you.
- I strongly suggest you focus on improving your credit and developing savings prior to buying a home.
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