My credit report does not show any late payments or delinquent accounts yet my score is still very low. I am up to date on everything. I do have a lot of student loan debt and show $59,000 in open accounts. I would like to buy a home but do not know how to repair my credit without paying off some debt and that is not a possbility at the moment. In this market I am told that it is possible to get a mortgage for the same as the cost of my rent. Is it possible to get a loan despite my low score since my payment history obviously shows I am responsible and pay my bills on time.
We have homes listed with Owner financing. This will give you time to repair your credit then re-finance with a reporting lender.
Contact our office today for a home that will work for your special needs.
Ken Whitehead
Rainbow Lakes Real Estate
352-465-0264
Alfred,
You should work with a lender who can help you bring up your credit score. Many lenders will help with this service free of charge. If you need the name of a good mortgage broker, just send me a note.
Hello, Alfred
What cheryl said is correct, you might want to look into waiting for a bit longer, or looking for an owner finance. i know of a couple of them, please contact me and let me know exactly what you are looking for.
Have a great day
Liliana Rivera
352-425-1940
Hi Alfred;
Although most lenders can not approve a mtg. with a score less than 620, there are still some investors who will approve a loan with lower credit. I have worked with customers with low scores who received a mtg even in this market. It will cost you more to close and your interest rate will be higher. It is a great time to buy, but you might want to rent for a yr and improve your credit. In this market there are homes with owner financing that may be a good option. Please call me to discuss more.
At Your Service,
Cheryl Bednar-Jimenez, Realtor
Coldwell Banker Ellison Realty 352-304-4654
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