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I know what the difference is in terms in getting credit, but not that is what I'm interested.
I want to know if its safer, for example I've heard that if I make an order using a ... |
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| OK, so I'm 14 and we have a family PC that is really crappy. I want a Dell that is only 18 dollars a month, which I can afford. But my dad says his credit score isnt good enough, so I have to ... |
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| I am trying to get a credit card to start my credit, but so far I hve been denied by Capital One and Chase (Master Card.) I am a full time college student and I don't have a job on the books. I... |
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| My credit card account has been closed by the creditor, but it has a balance due in the amount of $908. I'm working to clean up my credit report and payoff any outstanding debts. Should I pay ... |
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| I want to trade in my car but I don't know if my score is good enough. Its at 687 right now ... |
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| Im trying to improve my credit score, (which is in the medium poor range), I just opened an unsecured credit card with a small credit limit, (300$), I was thinking of opening another small acount, W... |
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| Okay i have awful credit from past young stupid mistakes. I make great money now and could easily afford a car payment. however, i cannot find anyone willing to take a chance. i realy wish you ... |
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| Personally I don't care about the ethics behind it I just don't want to get ripped off. He says he can do it for about $300. Anyone out there have any luck with credit repair??... |
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 My bank notified me that a check I wrote was returned. What do I do now? |
It was for a credit card payment to Target. Do I need to go there or will that contact me or will they just try to re-deposit it? I have the money to cover it in my account now.
Additional D... |
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 Why do banks ask for your national insurance number when you're applying for a bank account? do they check |
Additional Details
the number, because i can't remember my number i think i got it right but now i'm not ... |
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| What I mean is can they actually go into detail with your accounts, etc.? OR do they only see you "credit rating" or "score"?? Someone with experience as an employer or manager, ... |
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 Do you mostly use cash,write checks,or use a credit card to buy things?? |
| I always use my debit card......i rarely use cash,or write checks unless i am paying a bill.I don't have any credit cards so if i don't have the money in my checking account,iwon't buy ... |
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 What does a 649 fico score mean? |
| I found out my FICO score is 649. The worst thing in my credit report was I missed some payments on a credit card for 3 months about a year ago. Also, I had a lot of open accounts, but I don't ... |
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 Bankruptcy? |
| My freind was made bankrupt about four months agao and i finding it hard to get a debit card he doesnt want an overdraft or anything he just want to be able to get his wages paid in and that has ... |
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 I need help . my friend open a credit card in my named and she add her self as a authorize user .? |
| she apply thru the telephone she have used the card in her named and also made payments. i call the card company and close the account. but they are still want to charge me for the amount. they said ... |
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Coty B | I'm trying to get a home loan. Do you have any tips? (considering the following)? |
Theres going to be me and another person, but both of us have no so good credit scores. We're both working on it, and we have about 2000 to put down.
Any tips would be greatly appreciated! |
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Timmay
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with the subprime mortgage market in chaos and upheaval, the low down payment, and not so good credit, try for a condo inside of a home. any routes will be time-consuming, high interest paying, and heartbreaking, trust me. |
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bdancer222
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First, it is a bad idea to buy a house with someone you are not married to. There are courts set up to divide marital assets but nothing to settle boyfriend/girlfriend break ups. Make sure that you can afford to make the mortgage payments alone, just in case.
Secondly, as others have pointed out, housing is in flux right now. You would do better to wait and work on improving your credit score and building a larger downpayment. |
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benvanzile
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I've got some bad news for ya. After the 18 billion Citibank just lost on defunct home loans and the government bailout that Countrywide needed to take, rules are getting tighter. About 20% down used to be the requirement back in the day, but I doubt you are looking at a $10,000 house. I would suggest you continue to improve on your credit, keep saving, and you'll get there. |
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A_Moron
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SHOP FOR MORTGAGES. Don't just take the first offer. And really don't buy more house than you can afford. You must remember that a mortgage company does not take into account your student loans, credit cards, etc when telling you what you can afford, you have to do that. |
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Rick K
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the credit score is not as important as the credit itself if you go thru a FHA lender and you have no charge offs on your credit you can get a loan with 3% down and you can get seller to pay up to 6% of your closing costs |
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EMT13
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$2000 down is not enough for a house....unless it's on wheels. You should really rethink the idea of buying a house with another person. Is the other person just a friend or are you dating? People change...contracts don't.
The only way to increase your scores is to get all the negative info off your credit reports and start rebuilding good credit byt starting with a secured card and maybe a store card. Once that bumbs your scores up (requires you to charge items and pay in full & keep your utilization below 30% of available credit) then get some sort of installment loan....car loan and pay it back ASAP. Then recheck your FICO and credit reports and decide if you and the other person are both truely committed to buying a house together and check their FICO and reports also. |
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Leah
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what everyone else said above me.... |
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rockjock_2000
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what's the price range of the home that you are trying to buy? Save at least 20% of the general range home price as a down payment.
While you're saving more money, work on getting any debts paid down and keep up on your monthly bills. Keep no more than 2 credit cards, pay off and cancel the rest.
Whatever you do, don't get an ARM!!! Negotiate a fixed rate mortage, no more than 30 years in length. If you have to accept a higher interest rate right now, do it anyways. You can always refinance to a lower fixed rate in a few years, once your credit scores are higher. There's no guarantee that you would be able to negotiate to a fixed rate from an ARM in 2 years time; in any case, at that time,your mortage payment would drastically increase over the introductory payment for an ARM.
Be sure to factor in things like property tax payments and home insurance costs, as these can run you several thousand dollars a year, as well as costs for home repairs, which can be costly and come out of nowhere. |
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doumbek
 |
Pick your loan officer carefully.
PICK YOUR LOAN OFFICER CAREFULLY!
:-)
Many lenders will tell you you can't - this is total bull. It's really about your income and if you can afford the payments. Consider 50% of your income going to house/insurance payments - if you can do this, you will get a loan.
DO NOT GO TO A BANK. Banks don't care, and will not service your loan with any aggressiveness. IF they manage to find you a loan, it will probably be poor and you'll pay higher interest.
What you want is to meet with a SMALL mortgage company, not a big chain, even a one-man show. The smaller brokers will put the effort into getting you the best rate and getting you a loan when others cannot.
Meet with several. Get the feel of them before you allow them to run your credit check - each time you run a credit check it goes on record, and multiple ones can actually decrease your score. This is really the most important part - finding a GOOD mortgagor.
Your credit score and down payment mean very little in actually securing the loan Really, it just means a higher interest, which means a higher monthly payment.
$2000 is not a down payment. $2000 will cover closing costs. Don't even go in with $2k as a "down" - just say you have $$ for closing costs. $2K is a down payment on a car! You really need $10K-$20K to consider a down payment.
But don't let this worry you - if your income is there, you don't ***NEED*** a significant dowm payment.
They will want your money, even $2K. So freely let them know you have $2K to throw, money is a good motivator.
Last, DO look into an FHA loan - this is a loan for "first time buyers" and offers a lot of protection. For example, it requires the house be inspected in more rigorous manner that a normal loan. Second, it will get you a better interest rate, which means a lower payment.
And you can buy without being married - both names go on the contract. I did it. |
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curiousmaster87
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Hey search online. There are a lot of compaines, that give out Bad Credit Home Loans, and all other loans in pacticular. I would suggest saving a few thousand more tho, unless your only wanting a smaller loan not exceeding 80,000 or so. Im not sure about the two person thing, unless you are married, but I think you can. Have you thought of a co-signer. That would really help ya out. Also Have you looked into buying a foreclosed home or a home coming up on forecloser. Thats what I did, I purchased a 3 bedroom house for 53,000 dollars, in pretty good condition. |
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CAT
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if your credit scores are not great, then your job and pay probably isn't either. I would just sit down and talk to the mortgage counselor at a bank. They will go over all of your options but ALSO want your business and money. |
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jjonson50
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Buy from owner financed. |
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