Home Buying in El Monte>Question Details

Zhujianqiu20…, Home Buyer in El Monte, CA

If I put in 40% down, Should I get loan without check my credit?

Asked by Zhujianqiu2005, El Monte, CA Wed May 23, 2012

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10
Yes, you are under Stated Income Program, but need to have your job verified. if your employer can proved you work there. Then it's okay.
0 votes Thank Flag Link Sat Oct 27, 2012
Not in this world, sorry. Even cash buyers are subject to some rules & regulations
0 votes Thank Flag Link Sat Oct 27, 2012
Yes, Private lender is your choice. If you need help I can hook you up with the lowest interest rate private lender. 3 days to fund.
0 votes Thank Flag Link Tue Oct 16, 2012
Mr Zhu, give me a call, maybe I can hook you up with some lenders

626-242-4088 Paul Cheng
0 votes Thank Flag Link Wed May 30, 2012
Zhu Jiang Qiu,

You will have to get your credit checked with a 40% down payment. As mentioned by my colleagues, if credit is not a factor you are likely to pay higher interest rates and points to a private hard money lender.

Do you not want your credit pulled?

Felix
0 votes Thank Flag Link Sun May 27, 2012
If you get a loan of any type without a credit check it would have to be from your parents. There are no lenders anywhere that won't pull a credit and employment or at least an income verification of some sort. Not even with a 75% down payment unless it was a choice property with some very unique upside resale potential and you signed some pretty stringent loan stipulations in the even of default.
0 votes Thank Flag Link Sun May 27, 2012
If you get a loan without a credit check it will be with a private lender, not an institutional lender.
0 votes Thank Flag Link Thu May 24, 2012
The only loan you may get that way is with owner finance or 100% down:)

If you would like me to find you an agent willing to help you with that go to http://www.grapevinereferrals.com
0 votes Thank Flag Link Thu May 24, 2012
in short, no. Credit worthiness is required no matter down payment amount.
0 votes Thank Flag Link Thu May 24, 2012
That's kind of like asking "if I beat a victim to within inches of his life, will I be charged with a crime since he didn't die?". If you want to borrow any sum of money (be it 60% or 100% or even 5%) you are going to have your credit checked. That's the only way lenders can decide if you're worthy of receiving their money and knowing if you might pay them back. Unless you are dealing with a less reputable form of lending...
0 votes Thank Flag Link Wed May 23, 2012
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