Home Buying in Atlanta>Question Details

Gina Phipps, Home Buyer in Atlanta, GA

do private home loans for under 30k for bad credit exist? ..see description Do private home loans for under 30k exist? ..please see description

Asked by Gina Phipps, Atlanta, GA Wed Jul 25, 2012

I'm thinking of buying the house next door to my parents. My husband recently died and I would be using ins money. I believe they are currently asking 50k and I am looking to put up to 50% down (hopefully can negotiate it down, the house has been empty for some time). since my husband died, the car was repossessed and I'm working on getting my student loan back in control. I now have 1400 a month very reliably coming in. Any advice?

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What does the property appraise at? It is probably possible to get private lending but, the interest will be much higher. More like 10% if your credit is bad. A bank wants to see income and credit history. A private lender will want to be protected.
0 votes Thank Flag Link Mon Sep 3, 2012
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