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Best place to get a home loan with bad credit?

I am looking for a return on rent. I pay over $1000 for a place to live anyways, but do have a few problems with my credit. Where is a good place to try for a loan, I don't want my credit looked at sooo many times. I know of other people with bad credit say they get a loan. Any ideas? Nobody here really owner finance b/c plenty of people looking to buy.

Public Comments

  1. If you don't have the best of credit, you may have some problems because the subprime loan industry is having a lot of problems because so many people have gone into foreclosure. If you have good income and low debt-to-income ratio (not to be confused with credit utilization ratio) you should be fine. Offer to make a large down payment and you're considered to be less risky and will not be penalized with PMI.
  2. A good free consumer site is at http://www.mortgageawareness.com , they have free tips and advice on obtaining first time home buyer loans with bad credit.
  3. go to www.acornhousing.org....and check if they offer help in your area. this is a non-profit that works with bank of america to offer good loans at low interest rates for those who have had trouble in the past. they also offer classes on how to get yourself back on track with your finances....it's a good resource. good luck
  4. the only thing about bad credit is that anywhere you go for a loan, your interest rates are going to be huge, but if you have your credit checked a lot, every time you are turned down, it goes against your credit. it sucks, but the only thing to do it try. if you don't want to risk it, then you might want to either find a cheaper place to rent, or just continue to pay rent and try to save. good luck.
  5. I work for a title insurance/escrow company. There are several so called "sub-prime" lenders (those who make loans to people with less-than-perfect credit). Unfortunately, there are also several sub-primes which have gone bankrupt recently due to high numbers of borrowers defaulting on their loans. A lot of the sub-primes have recently tightened their requirements for lending to people with less-than-perfect credit, but that doesn't mean there's no hope. Your best bet is to contact a mortgage broker--that's not a lender, that's someone who takes your info and then finds the best loan for you among several lenders that he/she works with--but keep in mind that not all brokers have your best interests at heart. If something sounds too good to be true, it probably is. If a broker wants you to pay a lot of money upfront, run! Find another broker. Make sure to ask TONS of questions so you know exactly what kind of loan program they're getting for you. And it might just be necessary to wait a little while and work on improving your credit so that you can qualify for a better mortgage in a year or 2.
  6. I'm not really sure on that, but I did want to mention to steer clear of the "variable interest rates" Those are a bad bad bad idea, as they can cause your monthly payment to double or worse.
  7. some choices here http://www.researchitforme.com/wesayes/homeloans.html
  8. Look into a broker, they can run your credit once and take it to many lenders. It is also good to look into a credit repair programs and start focusing on fixing your credit early prior to purchase. Email me situation and I can help out anyway possible. Nathan Grant Ngrant@pacifina.com
  9. checkout the home loan information site It's help you hope visit
  10. Today a home loan for people with bad credit is easily available. Use these tips to increase your chances of success: Search For A Good Real Estate Deal: Buying a property containing some equity, will help you get finance for it easily. The lender will consider this as a type of down payment on the property. Some lenders take into account the loan to value ratio of the property at the time of approving the loan. Ask your mortgage broker to check out if it will help you get the loan. Use Creative Financing – Find out if the seller is ready to carry back a second mortgage on the home. Here you sign a contract or agreement with the seller stating that you would pay them each month the price of the property with the interest, as a second mortgage. You can make the deal lucrative for the dealer by including in the agreement the clause that you would pay the whole amount within a short time frame like 2 years. You can use this time to refinance and the seller does not have to wait for eternity to get their
  11. Hello, This is Mr Chris Peters.I am a loan leder who give out loan at low interest rate of 3% to 5%.Are you financially down?Do you need help to pay your bills?If yes,contact me today for your loan at consultingpeters@consultant.com or consultingpeters@myway.com.If you have contacted me before you are now to contact me via my new email address.I will be ready to help you regarding this as i am ready to work with you if you are a honest person.When you are contacting me plkease do include the amout of loan you need and the duration you need the loan for so that i can frward to you my loan terms and condition.I will be expecting your mail soon.Thank you consultingpeters@consultant.com consultingpeters@myway.com consultingpeters@yahoo.com
  12. There you go : http://simple-credit-cards-and-loans.com?=yh070330 http://cleancredit365.com?=yh070330 Good luck !
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