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Shanelle Missy
Joined: 29 Sep 2009
Posts: 11
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| Posted: Fri Oct 16, 2009 10:24 am Post subject: How much home loan to take ? |
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| Home loans for bad credit are for people who find it difficult to get loan facilities due to poor credit ratings. However, people with bad credit may have to deal with several difficulties at times and they also pay slightly higher interest rates for the loans. One of the best ways to increase your chances of getting a home mortgage loan if you have poor credit is by improving your credit history. Besides, you can get in touch with some good sub prime lenders who may be able to assist you in getting the best deal in getting such loans. |
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TimtheMortgageGuy
Joined: 16 Jan 2008
Posts: 96
Location: Rosemount, MN
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| Posted: Fri Oct 16, 2009 6:06 pm Post subject: |
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| Wow, I feel informed now... :roll: |
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EricJ
Joined: 09 Jan 2009
Posts: 321
Location: New Jersey
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| Posted: Mon Oct 19, 2009 12:55 am Post subject: |
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| She is here to spam us. I removed her signature |
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Roger_Silvester
Joined: 29 Jun 2009
Posts: 51
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| Posted: Wed Oct 21, 2009 7:12 am Post subject: |
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I guess the best option for people with Bad Credit are the FHA loans.
The main aim of these loans is to provide help to people that wish to buy homes, especially the first time home buyers. Bad credit is of course a blemish on the image of a person but it does not prevent him from taking a FHA loan. People suffering from bad credit are still eligible to apply for the FHA loan and enjoy the associated benefits like 100% financing, down payment of less than 3%, FHA regulated closing costs, and no fear of FICO scores. However there are some factors that are looked for while providing bad credit FHA loan. |
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TimtheMortgageGuy
Joined: 16 Jan 2008
Posts: 96
Location: Rosemount, MN
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| Posted: Wed Oct 21, 2009 1:47 pm Post subject: |
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Roger_Silvester wrote: I guess the best option for people with Bad Credit are the FHA loans.
The main aim of these loans is to provide help to people that wish to buy homes, especially the first time home buyers. Bad credit is of course a blemish on the image of a person but it does not prevent him from taking a FHA loan. People suffering from bad credit are still eligible to apply for the FHA loan and enjoy the associated benefits like 100% financing, down payment of less than 3%, FHA regulated closing costs, and no fear of FICO scores. However there are some factors that are looked for while providing bad credit FHA loan.
Bad credit can DEFINITELY prevent a borrower from obtaining a FHA loan.
The minimum down payment required is MORE than 3% (3.5% to be exact).
Maybe you should stick to payday loans. |
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Josh Harmatz
Joined: 08 Sep 2009
Posts: 18
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| Posted: Thu Oct 22, 2009 9:13 pm Post subject: |
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| If you have bad credit the best way to get a loan is to see if you qualify for a FHA loan. |
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TimtheMortgageGuy
Joined: 16 Jan 2008
Posts: 96
Location: Rosemount, MN
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| Posted: Tue Oct 27, 2009 6:24 pm Post subject: |
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Josh Harmatz wrote: If you have bad credit the best way to get a loan is to see if you qualify for a FHA loan.
Acutally the best way to get a mortgage with bad credit is IMPROVE YOUR CREDIT FIRST! Prove to the lender/the world that you are worthy. |
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meflee
Joined: 28 Oct 2009
Posts: 5
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| Posted: Wed Oct 28, 2009 12:27 pm Post subject: |
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| Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation. |
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TimtheMortgageGuy
Joined: 16 Jan 2008
Posts: 96
Location: Rosemount, MN
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| Posted: Wed Oct 28, 2009 2:22 pm Post subject: |
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meflee wrote: Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.
Like how...with some crap 'rent to own' arrangement or what? :roll:
For those that want true ownership with favorable financing terms you HAVE TO HAVE DECENT CREDIT. |
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EricJ
Joined: 09 Jan 2009
Posts: 321
Location: New Jersey
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| Posted: Thu Oct 29, 2009 10:53 pm Post subject: |
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Tim
meflee is also a spammer. just making up stuff so i deleted the signature |
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