you to correct the marks that are blemishing and lowering your credit score. Consult a loan officer to guide you to a good company that will help you to do the correction on your credit report. The higher your credit score is the better rate in which you will paying on your loan. Please contact me if you need a loan officer or company that works with credit,I would be happy to help you. Debbie Bergthold-Smith Classic Real Estate.
You are actually in a much better situation than appears to you.
If your intent is to finance the purchase of a home, you need to be acutely aware, you highest cost will be the price you pay for the money to buy the home. This cost will dwarf the actual price you pay for the house. This financing price is largely dependant on your credit score.
Please consult a local lender. If you like the stories you read about foreclosures, consult with a big bank.
You need to determine:
1. Will it better serve you to use a portion of your 25K to pay down debt and improve your ratios?
2. Can plans be in place to improve your credit score by simply cleaning up incorrect information?
3. Are there blemishes that MUST be resolved before any financing can be considered.
4. Do you have exposure to other debt through business relationship, marriage, co-signing, etc.
5. What is your purpose for purchasing a home?
As you walk towards a home purchase, play close attention the the options and benefits a WalkableHome provides. For those who are adverse to risk, qualified WalkableHomes are a real option.
Best of success in your new home purchase.
ReMax Realtec Group
Palm Harbor, Fl
727. 420. 4041
$25k is a good start. Based on your credit scores you can obtain a loan with as low as 3.5% down. You need to be employed and your income needs to be enough to satisfy not only the mortgage debt but also your other debts. How low are your scores? If they are below lender standards, then spend the next few months clearing up your credit issues. This will allow you to be in a position of strength within 4-6 months. There will likely still be plenty of deals next summer.
Feel free to contact me with any questions:
Bill J Deligiannis
First Centennial Mortgage
Without a doubt I would consult with a lender/loan officer. Let them do the math for you and give you a game plan if there are any issues discovered in the process.
I recommend Matt Bukovy @ Wintrust Mortgage 773-654-2498 O 773-416-7101 M, firstname.lastname@example.org.
Senior Vice President