gjkishere
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Yes, but they're going to ask you for higher interest rates and probably insist on mortgage insurance. |
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jeff s
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the answer is maybe ... there is a way to get a government insured loan with a low down payment that does not necessarily make you pay off all of your collection accounts but it does depend on your personal situation and you would have to qualify based on your income.
to find out more call 1-877-LIFE-711 and i will be happy to give you information.
by the way never listen to anyone that just tells you know without knowing all the facts. you may not be qualified, i dont know by the information that you provided but at least i am willing to try and help you out. NO should never be an acceptable answer :-)
good luck |
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harish
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Small steps like paying your bills on time and using only part of the credit available to you. Also use your credit cards for making small payments regularly, so that it is reflected in your credit record. More tips available at http://www.acreditlibrary.com/buildcredit.html |
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sam
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I have a list of some good websites offering Mortage Loans with low Interest rate and fast approval. Its a policy voilation of yahoo if i post any link here.
Just mail me at solidoffer11@yahoo.com with subjet- Mortage Loans. I will send a link of best website where you can find best Loan offers,tips and resources.
best wishes |
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Daisy
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YES! Find your self a good broker. A good broker can find a loan for people with scores as low as 500. You maybe asked to put 8% down but you can always use sellers concessions to help you with the 8%. |
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sicwidit
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as someone who just went through this with a credit score of 580, fannie mae and freddie mac (mortgage lenders) require a 620 score for 100% financing. with a score of 547 you will probably need at least 10% down. maybe more depending on the bank/mortgage company. they told me as long as i got my score up, even though i have collections they will finacnce me. |
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zyberianwarrior
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with the new rules since feburary, probably NOT! Get the collections taken off and try again in say 2-3 years. |
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Joe S
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If your credit score is 620 or above you will probably be approved for a conforming loan with a lower interest rate. If your credit score is below 620 you will probably be approved for a non conforming loan with a higher interest rate. Remember the lower the credit rating the higher your interest rate will be. Some lenders accept credit ratings down into the lower 500's. |
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jrbro1
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no offense dude, but with a 547 and collections, you don't need more debt. Focus on getting caught up and clean up your credit. At the same time, save a little toward a down payment so that you can hopefully reduce your mortgage interest rate. For good credit counseling info go to www.daveramsey.com |
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