Question about a home loan with bad credit?
I have poor credit score is 610. I just paid off all of my debt but it was all very old debt from when I was young and stupid. I would like to buy a house in the upcoming year. I know my score sucks but I wll have at least a 50% down payment. Do you think I will be able to get a loan? If so what kind of rate do you think I will get for a 30yr fixed.
Public Comments
- Bad credit is one of the worst problems to have... however there exists a solution. I will hereby talk from my personal experience. I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details, if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first, a good place to start in my humble opinion is astraight to the point ebook with question and answer I found : http://umgarticles.atspace.com/debt-consolidation.htm if it helps kindly remember me in your voting!.. cheers!
- Kevin, I have some great links to help you! Just shoot me an email to msmith@premierloangroup.com, and I'll help you. Marty
- However, before applying for a bad credit loans, there are some things you should first take into account. The only eligibility for the bad credit loan is poor credit history. To enhance your credit score, ensure that the details of your loans are sent to major credit bureaus. Getting a lender offering a bad credit loan is easy as there are many people with bad credit problems. But due to good job or additional income sources, they can make timely payments, yet their credit ratings remain poor. Nowadays, many lenders are offering good deals to such people but with a higher interest rate. This is because lenders view the bad credit loans as risky propositions.
- You can get a loan easily probably around 7.5%. I recommend Smart Choice Mortgage. They do business in most states and are your best opportunity for someone to say yes. Check out the free evaluation form at the source website and a Smart Choice loan officer will contact you within 24 hours. Good luck.
* Some answers may have been provided by Yahoo! Answers.