The credit scores to get a loan have been raised to 620. If you do not have a score of 620 you may have to rent and work on your credit repair. There are companies that can help you or you can do it yourself. Paying on time, having only a limited number of credit cards that you use and not maxing them out. Check out this link: http://articles.moneycentral.msn.com/Banking/YourCreditRatin… . Cut and paste it to explorer...it will tell you what you need to do to raise your score. You can get a FREE look at your credit score once a year. Remember that each time you or a potential creditor looks at your credit score, your score will drop. Best wishes. Mariyn Hardison

Mr. Garcia,
The best place to start is contacting a lender, he or she will explain you the process and requirements, if you need a list of lenders in the area I'll be more than happy to assist you. Call me or e-mail me and you can start moving forward on the future purchase of your home.

Mr. Garcia...there are still lots of questions. A large downpayment is good and will help but lenders still look at credit, job stability, income and other factors. Talk to a mortgage lender. They will be able to determine your ability to get a loan. If you need recommendations...just ask. I will be glad to recommend several lenders to you.

It absolutely would. A buyer with a large downpayment is MUCH less of a risk for a lender.

I am a mortgage broker. If I can be of service, please let me know!

Martin Smith

Precision Funding
877-238-6324 Ext 704
513-536-7184
877-238-6324 FAX
MSmith@PrecisionFundingUSA.com
http://www.PrecisionFundingUSA.com

Joe,

Let me help you with that. I am a local REALTOR and I have local people who do the mortgages. Let me guide you through the process to be able to find what is best. You may not need the 50% down, but we need to get with some of my people to see.

Give me a call tomorrow, or email me your contact info so that we can get together on this.

Steve Tennison
steve_tennison@sbcglobal.net

50% down cures a lot of credit woes.
However, lenders will still have requirements.
Many loan officers will not do below %50K loan, so a bank may be your best bet.
Bank of America does low loan amounts.

Hi Joe:

With less than perfect credit, your interest rate is still going to be quite a bit higher regadless of the increased downpayment. I would stongly consider credit restoration. This will enable you to get a better loan program and enjoy the benefits of a good credit rating -

For information on credit restoration, please visit the following links -
http://www.creditrepairproof.com http://www.35minutevideo.com

Both will provide great information. If you have any additional questions, please feel free to contact me at gwennt@centurytel.net and I will be happy to assist.

Contact a mortgage broker who can review all your financial records, employment history, debt ratio, downpayment. 50% down likely you could qualify requires lender approval.