Home Buying in 90059>Question Details

Ayanna6942, Home Buyer in Los Angeles, CA

Hi, I'm looking into buying a home, but by scores are low 530. I would like to speak with a loan officer in my area 90059, for some adsistance

Asked by Ayanna6942, Los Angeles, CA Sun Apr 29, 2012

thanks.

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6
Hey Ayanna if you have a substantial down payment you can purchase a home with low scores, otherwise you need to work on building up your credit.
0 votes Thank Flag Link Mon Sep 30, 2013
The proper advice to a consumer with low credit scores who wishes to buy a home: IF YOUR CREDIT IS BAD YOU SHOULD NOT BORROW MONEY TO BUY A HOME. GET YOUR FINANCIAL HOUSE IN ORDER BEFORE YOU ASK A LENDER FOR A MORTGAGE. There are no shortcuts such as credit repair or finding that one mortgage Lender who accepts loans for "500" credit scores!

This idea of "who does mortgages for scores below 620" and credit repair is the SAME IDEA that got us into this mess in the first place: lending to people who are not qualified to repay the loan!!!

I'm sorry if I sound obnoxious with my advice, but my polite approach doesn't seem to work when I answer these "bad credit" questions here on Trulia. Besides, I've already been down this road. When I blogged and participated in online forums and chats during the BOOM (Craigslist Housing forum, look me up: tcurranmortgage), I held the line on my opinion: buy a home you can afford with a 30 year fixed rate payment. I never waivered from that opinion and I won't waiver from this one today.

Dear frustrated consumers with bad credit: take your time to put your finances in order. Learn what a responsible HomeBuyer needs to qualify for and pay for a mortgage loan. Then work on those things---Income, Assets, and Credit---so you can make your dream come true the RIGHT WAY.

Good luck!
Trevor Curran
NMLS #40140
0 votes Thank Flag Link Wed Nov 14, 2012
If you have 35% down you can get a private money loan, if not you need to build your credit up first.
0 votes Thank Flag Link Wed Nov 14, 2012
Hi Ayanna, I have some great resources for you. II would be glad to point you in the right direction, I work with a credit partner that can assist you in improving your credit. How soon did you want to move? Please contact me directly at annamariasellshouses@gmail.com . 323-608-4881

http://www.southbayluxuryhomes.com
Anna Maria Kitras, Broker Associate
annamaria@southbayluxuryhomes.com
0 votes Thank Flag Link Sun Sep 23, 2012
Well, we need to see how we can bring up your score first!!!...then we go from there.
Call me to discuss.
0 votes Thank Flag Link Mon Apr 30, 2012
Hi Ayanna,
I'll be glad to help you and set up an appointment over the phone at your convenient time with our lender.Do you have any preference(English speaking lender or Spanish one)?Please let me know.
Please email me at Ludy@tarbell.com .

Regards,
Ludy Ivonina
Tarbell,Realtors
(800)578-0751
0 votes Thank Flag Link Sun Apr 29, 2012
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