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In love with this house

Date: Thu, 01/29/2009 - 10:48

Submitted by candiceann2003
on Thu, 01/29/2009 - 10:48

Posts: 139 Credits: [Donate]

Total Replies: 8


I found a home for sale that I am in absolute love with....my credit is 567 so it is going to be hard for me to get a mortgage, I am working on raising my score, but am scared of this home selling in the meantime....does anyone have any ideas?


Talk to a mortgage broker. Only they will know if there are any current loans available to people in your situation. But I think you might be out of luck. Do you have 20% to put down? Last I talked to my mortgage broker (three weeks ago) he said their was nothing available to those that can't put at least 20% down.


lrhall41

Submitted by ball_mich on Thu, 01/29/2009 - 10:54

( Posts: 360 | Credits: )


It's a longshot, but you might find out if the seller would be willing to do a sale on contract. I bought my first house this way. I did have to put some down, but then I paid the seller monthly instead of the bank. I was very young and did not have the established credit to get a mortgage through a bank. After five years, they required a balloon payment and at that time I was able to get financing. In your case, in five years your credit may be a lot higher and it will be easier. However, if the seller needs the funds to move and purchase a different house, they wouldn't go for it. But it's worth asking if there aren't any other options.


lrhall41

Submitted by SusieQ on Thu, 01/29/2009 - 11:15

( Posts: 302 | Credits: )


well thats great....i just talked to one and she didnt sound too promising.....i can email you the rest of my info from home but right now i can tell you trans 518 experian 539 and equifax 567


lrhall41

Submitted by candiceann2003 on Thu, 01/29/2009 - 12:48

( Posts: 139 | Credits: )