Home Buying in West Pullman>Question Details

Sharon, Home Buyer in West Pullman, Chicago,...

Are there some mortgage co. that deal with not so good credit.

Asked by Sharon, West Pullman, Chicago, IL Fri Aug 12, 2011

The house is listed for 100,000, I been rented a house for 4yrs. at $950 mo. I could be buying my own home.

Help the community by answering this question:

Answers

4
Riccardo Wardlow’s answer
yes as a matter of fact there are, in a lot of cases you can purchase with a 580 credit score.


Riccardo Wardlow
Owner
Quality Mortgage Lending
630-670-8266

RATED A+ WITH THE BBB

*We do Conventional loans down to a 620 score
*We do FHA loans down to a 580 score
*We do USDA loans down to a 620 score (no money down)
*We do $100 down payment FHA program
*Unlimited Loan To Value refinances on Fannie/Freddie refinances (only on loans originated before May 31st 2009
*We do VA loans down to a 620 score
*We give free counseling on what needs to be done to improve your credit score.
*We do 203k loans down to a 620 score
*We do reverse mortgages
*We do JUMBO loans to 12 million
*We do Itin loans
0 votes Thank Flag Link Tue Jul 30, 2013
there are all types of lenders..the bigger the risk the higher the rate
0 votes Thank Flag Link Mon Jul 29, 2013
You could try http://www.naca.com (neighborhood assistance corporation of america). They are a non-profit organization that counsels potential homeowners and they can help you get a loan from a cooperating bank you would ordinarily not qualify for. The process is not as easy as going to the bank or mortgage broker directly. If you follow the program and agree to support naca there is a good chance they can help you.
Web Reference: http://www.rnowak.com
0 votes Thank Flag Link Sun Aug 21, 2011
Hi Sharon,

I would recommend you talk to a good mortgage banker. Many times people think they have 'not so good credit' when in fact it is fine. There are programs for first time home buyers like yourself that require only so so credit and a small down payment. At the very least you will know whether or not you qualify, how much you qualify for, and/or how to fix your credit so that you WILL qualify in a short time, and how much time that will take.

If you don't know a lender, find a good realtor and ask them, they will be happy to help you find someone. And, if they DO help you, repay the favor by letting them also help you find a home of your own.

Good Luck!

Suzanne
0 votes Thank Flag Link Fri Aug 12, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer