Friday, August 7, 2009

Home loan 95% financing?

I need some recommendations for a home loan.



My husband has a credit score above 600 and mine also.



he works I don%26#039;t.



The only problem is he ows about 16,000 on delinquent credit



card payments from college.



He was offered a loan with 10% down, that would be about 10,000



to 16,000.



Too much for us right now.



We want to put down about $5000 plus closeing cost and then just make payments.



We are in Mo area does anyone know of a good lender for this situation?



He has a good work history and college graduate with a good income around 60,000 yearly



Home loan 95% financing?credit union





Home loans are now available to many people for whom they would have been out of the question just a few years ago. You鈥檇 be in much better shape to bargain for better interest rates if you had a more impressive credit history, but if the house you want is the deal you%26lt;!--believe it to be, a bad credit home loan can still work to your advantage.Your best bet in assuming a bad credit home loan is to pay as much cash up front as possible, and see if by doing so you can negotiate a lower interest rate.



http://badcredits.awardspace.com/homeloa...



You鈥檒l save enough money over the term of the loan to compensate for the sacrifices you had to make in handing over the down payment.



The bad credit home loan can be a win-win proposition for both lenders and borrowers; the lenders, thanks to the higher--%26gt;interest rates, get bigger returns on the money loaned, and the borrowers get a homes in which to build equity, and chances to restore their credit records so that the first bad credit home loans they take will also be the last!



Home loan 95% financing?

loan



Hi there, I would be happy to help. Send me an email as I have a couple of questions...or check out my husband and my website: www.Richardsonshomeloans.com



My husband is a CMPS, and works with situations similar to yours all the time.



my email: nic393@gmail.com. Thanks!|||FHA has a 2.25% down payment requirement.



They dont look at credit scores.....so you can get 7% or lower.



You should also have the seller pay for your closing costs|||this may be a dumb question but, how can your husband have $16,000 in delinquent credit card debt and still have a decent credit rating?



at any rate, you%26#039;re looking at getting a subprime loan with a high interest rate. ask yourselves if it%26#039;s worth it. a lot of companies are willing to prey on people in this situation. you may want to consider paying off the delinquent credit first and cleaning up the credit so you will qualify for a loan with a decent interest rate. good luck.|||this should be a do-able loan with what you want. yes, I would try FHA and also a mortgage broker but do not, please do not have



lots and lots of people pulling his credit. I would try maximum of 3 reputable licensed mortgage brokers / lenders , http://www.loanshoppers.net , and get a quote.



the 16,000 on delinquent credit may have to be resolved or at least start making payments.

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