I hold really desperate credit. Is a mortgage loan impossible?
I have really bad credit. I made some mistakes as a youth that are coming back to haunt me in a minute that I'm 23 and married. My husband and I want to be home owners but we both have poor credit. I recently get a loan to pay off bleak debt. I know it will take awhile for my credit score to increase but we really want to own our own home and are unbelievably good about paying our current bills in good time. My husband is on social security because he is in a wheelchair but I hold a monthly income of about $2200 and my work history is strong. Is it impossible for us to get a loan for a mortgage? Can you suggest any discouraging credit lenders that are legit? Thanks.
Answers:
you're screwed til your credit improves
the best thing for you to do would be contact a mortgage specialist and have them run a pre approval. Its really the solely way you'll actually know what you can bring.
an FHA loan might be your answer, as they have more forgiving credit score requirements:
http://www.thetruthaboutmortgage.com/fha…
You can also look for a local housing counseling agency within your area and make an appointment to see what your option are. Many so-called bad credit lenders can be predatory, so take watchfulness. Source(s): http://www.thetruthaboutmortgage.com/
u should let us know your credit chalk up, if its under a 650 u have no hit and miss, u could try getting a government loan
Related Questions:
Has anyone be competent to bring back a mortgage loan beside desperate credit?
My rent is more than a house payment would be!! Wanting to work with a trusted company where on earth I won't get screwed over! HELP! It depends on how bad your credit is! Have you checked your...
Answers:
you're screwed til your credit improves
the best thing for you to do would be contact a mortgage specialist and have them run a pre approval. Its really the solely way you'll actually know what you can bring.
an FHA loan might be your answer, as they have more forgiving credit score requirements:
http://www.thetruthaboutmortgage.com/fha…
You can also look for a local housing counseling agency within your area and make an appointment to see what your option are. Many so-called bad credit lenders can be predatory, so take watchfulness. Source(s): http://www.thetruthaboutmortgage.com/
u should let us know your credit chalk up, if its under a 650 u have no hit and miss, u could try getting a government loan
Related Questions:
Has anyone be competent to bring back a mortgage loan beside desperate credit?
My rent is more than a house payment would be!! Wanting to work with a trusted company where on earth I won't get screwed over! HELP! It depends on how bad your credit is! Have you checked your...