Home Buying in Creston>Question Details

mlr9530, Home Buyer in Grand Rapids, MI

I'm fresh out of CHP 7. I have $30K for a down pay on a home. Are there any mort co's willing to finance me with this size down pay?

Asked by mlr9530, Grand Rapids, MI Wed Jan 2, 2013

This question was asked from this property: http://www.trulia.com/property/3080296323-1561-Houseman-Ave-…

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I work with a few lenders who might be able to help you out. Contact me if you would like more information.
Web Reference: http://www.brekschutten.com
0 votes Thank Flag Link Thu Jan 3, 2013
I have a contact at a local credit union who does portfolio loans. They will look at your situation and then determine if you qualify for the loan. If you would like to email me I will email you her contact information.

0 votes Thank Flag Link Wed Jan 2, 2013
Please call me at 616 308 2631, or email me at kroelofs@grar.com. I am confident that I will be able to help you.


Karl Roelofs
0 votes Thank Flag Link Wed Jan 2, 2013
It depends how fresh you are. The best will be to find out directly with the lender. Call Jason Jenkins at First Place Bank - 616-724-3900...
0 votes Thank Flag Link Wed Jan 2, 2013

Since you are fresh out of Ch. 7 BK it will be hard to get conventional lending. Your best option is to get a land contract. With $30k down you have some leverage that will allow you qualify and possibly work terms in your favor. This will allow you to purchase right now when values are low and as banks begin to lend, you can refinance on your property at more desirable terms.

If you are looking in the Grand Rapids, MI area LandContractRealty.com has about 40 properties at any given time, so they would be able to help get you started in the right direction.

Hope this helps!
0 votes Thank Flag Link Wed Jan 2, 2013
It may be possible to purchase another home even though you had a chapter 7. I work with a lender who has investors that may be willing to provide you a land contract with 10% down.

Give me a call and I'll give you more details.

Prudential Preferred Realtors
0 votes Thank Flag Link Wed Jan 2, 2013
Depending upon the LENDER, you may have a 2-3 year wait.

Good luck and may God bless
0 votes Thank Flag Link Wed Jan 2, 2013
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