Where can I procure a mortgage loan near a credit mark lower than 500?
Answers:
from a crook!!
BadaBing have good advice on the subject of the secure credit card to re-establish credit.
You may be able to qualify for a rule housing initiative program depending on your income and where you want to live. There is often "no down payment" or low interest loans offered to low income folks who are willing to live in and fix up inner city properties.
Your mound may also allow this *possibly* if you have been near them for a long time, and have a good steady income, despite the poor credit.
Any other place ready to help you more than likely will rip you rotten and take advantage of you. They will charge you HIGH interest rates, which make your situation worse if you need that extra money to build your credit. Sometimes you can find the odd mortgage broker who is likely to work with you until you are in a better position though.
Aim to increase your credit evaluation to a minimum of 650 to get a shot at a decent and viable rate.
Pay adjectives debts on time, and pay more than the minimum. Pick up an extra mission if you have to. Your bank may allow one black indicate on your credit if your income is high enough or you own a large down payment.
go on line and furrow " mortgages with not such perfect credit".It will steal some work to get a home loan with that mark.it is not impossible but it will effect your intrest rate on a home loan.
Wow, pious luck with that. There was an error on my report that drove my chalk up to just under 600 and I be laughed at. Work to bring up that score, consequently try for a mortgage, or get someone with a better gain to co-sign with you.
Almost nowhere. NOTICE I said ALMOST. You'll be looking for a high interest "no doc" loan. Probably with a offering of equity from the current owner and a downpayment. You'll have to do a TON of research on this... but you can make it surface.
OR- you can buy a home on land contract: see the link http://en.wikipedia.org/wiki/Land_contra… Source(s): http://en.wikipedia.org/wiki/Land_contra…
Try Accredit home 1 714 244 2459.See if they could hep you out. You never know.
The lowest score I ever saw financed be 511. The rate you will pay is astronomical. Work on raising your gain first. Source(s): An Agent
fha loan - save your money
Maybe Guido down at the local pool entry. 500 is a terrible Fico score. I lost a house, and have a bankruptcy a few years ago, and never went below 630. Best entry to do is get a few 'secured credit cards', where your credit queue is equal to your cash deposit. They will accept almost anyone if they are protected by a dosh deposit, in the form of a savings statement. Capital One is a good start. No one knows that your card is secured, and it is reported impossible to tell apart as any other credit obligation. Just make sure you never travel over 30 days late. A few years later, adjectives the stuff has dropped off my credit, and its up to 730.
Related Questions: