Home Buying in 60623>Question Details

waynemitchel…, Home Buyer in Chicago, IL

I don't have a credit score, but I have 20% plus deposit, and I still get financing on 2137 s. trumbull ave. property

Asked by waynemitchell100, Chicago, IL Fri Jul 19, 2013

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You need to establish credit. Get a prepaid credit card that reports to the 3 credit bureaus. It would be almost impossible to get traditional financing without a credit score. Talk to a mortgage broker.
0 votes Thank Flag Link Fri Jul 19, 2013
give me a call my name is robert and i can show you how to get that deal done thru a hard money lender or i wil negotiate the deal and collateralize it with one of my own deeds. rob 708-491-6921 i have been flipping houses since i was 19 and i'm 55 now i've seen it all
0 votes Thank Flag Link Mon Jul 22, 2013
Wayne,

I send all my clients to Mary Kay Laurent with Guaranteed Rate at 773-516-6859. It is no cost o you and even if she cannot do anything for you today she will tell you exactly what you need to do and set goals with you for you to be able to purchase your new home.
0 votes Thank Flag Link Sat Jul 20, 2013
We suggest that you meet with a loan officer at two local banks to determine what you need to do to qualify for a mortgage loan.
0 votes Thank Flag Link Sat Jul 20, 2013
Hello Wayne,

As already stated you need to speak with a lender first. They can determine what your credit score is and identify any issues with your credit as well as advise you on how to repair it.

Contact Matt Bukovy, Wintrust Mortgage, mbukovy@wintrustmortgage.com. Let him know I referred you.

Good luck!
0 votes Thank Flag Link Sat Jul 20, 2013
You should speak to a lender. They can help you out.
0 votes Thank Flag Link Sat Jul 20, 2013
Talk with a lender , they will teach you how to do credit
0 votes Thank Flag Link Fri Jul 19, 2013
A lender will be able to tell you what you qualify for. You may even have credit and not know it.. It depends on other factors as well as the down payment.
0 votes Thank Flag Link Fri Jul 19, 2013
No credit, no loan is the usual rule. Not enough info to know for sure, but a plan to get you credit might be a best first step towards ownership.
0 votes Thank Flag Link Fri Jul 19, 2013
Contact a lender to go over the details.
Web Reference: http://www.BJDLOANS.com
0 votes Thank Flag Link Fri Jul 19, 2013
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