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NLCINFO said: "I have been amazed at how many more lenders are trying to help folk with lower credit scores. I am equally amazed at how folk are believing that if their credit score is less than perfect that they cant by a home... that is just not true.... I am glad to be in the business. :)"
desperato said: "Since there are more lenders out there in this business, what is the criterion that you have to have (ie. down payment, income, how house you qualify for, etc)?"
Ally said: "Things like the amount that you can put down towards a house and your PMI could really affect what kind of loan that you get.
Wouldn't you have to pay higher fees?"
bac31 said: "Does anyone know of a sample Letter of Credit? I want to buy a house but according to the lender I need to get a letter of credit.
If someone could help me I'd be grateful!"
paulb123 said: "These situations happen when a borrower with poor credit 620 and under enters a retail bank. They will be turned away as quick as they enter, but all hope is not lost. I have been able to qualify loans for several people with a mid score as low as 500. Never give up hope on your dreams of owning a home. Why rent and waste your money.
Kind regards,
Paul Bibbo
[email]paul@paulbibbo.com[/email]
516-775-7300 x280"
abloans4u said: "[QUOTE=paulb123]These situations happen when a borrower with poor credit 620 and under enters a retail bank. They will be turned away as quick as they enter, but all hope is not lost. I have been able to qualify loans for several people with a mid score as low as 500. Never give up hope on your dreams of owning a home. Why rent and waste your money.[/QUOTE]
Great Post, I agree"
sexione said: "Getting loans is not too hard ..... but what about getting a loan with no money down for first time home buyers???"
DonM said: "My scores were around 591 and I got a loan for 80,000 on my income alone. I had the seller pay the closing costs--they are allowed to pay up to 6% of the loan value. I think I had to put down at least 5% though. I also bought my rate down to 6.49%.(1% upfront to reduce rate 1/2%--so I put the max 3% allowed to reduce the rate by 1 1/2% ) I didnt think I did that bad with my score, 2 repos-one showing a balance,5 charge offs of which 2 Capital one accounts that still reported balances totalling 11,000."
Omega blood said: "Don where do you live (city) if you don't mind me asking."
DonM said: "Im near Pittsburgh, PA."
DonM said: "Oops! I forgot to add. I also had a Bk7that was 5-6 years old on my reports. So I really didnt think I did bad. The mortgage companies dont worry about too much if the OLD debts are charged off UNLESS THEY ARE STILL SHOWING A BALANCE. BK's are Ok too if they are discharged and about 2 years old. If your showing a chargeoff balance, they might try to get you to take an additional amount out to pay for them in full to get your mortgage. They tried with me but I refused to do that and the lender finally caved in and gave me a loan anyway."
YamaAchikzai said: "Here is a great site:
[B][url]www.LowCostCreditFixer.com[/url][/B]"
Babygirl_22_288101 said: "[QUOTE=NLCINFO]I have been amazed at how many more lenders are trying to help folk with lower credit scores. I am equally amazed at how folk are believing that if their credit score is less than perfect that they cant by a home... that is just not true.... I am glad to be in the business. :)[/QUOTE]
i am trying to get a home loan getting denied all the time cuz my credit score is low"
TScott said: "[QUOTE=Babygirl_22_288101]i am trying to get a home loan getting denied all the time cuz my credit score is low[/QUOTE]
What are your scores?"
94B10 said: "[quote=Babygirl_22_288101]i am trying to get a home loan getting denied all the time cuz my credit score is low[/quote]
What exactly is making your scores low?? In other words what derogatory/delinquent things do you have on your CR that would be bringing your score down? More info would help!
94"