Home Buying in Payson>Question Details

Jessandgerry, Home Buyer in Payson, UT

i have bad credit so if i put 50 to 60% down on a $150.000 home will i get approved for a home.

Asked by Jessandgerry, Payson, UT Tue Jul 13, 2010

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4
Jess it all depends on what you call bad credit. The best thing to do is to check with a mortgage professional that you can sit down with and talk to.
1 vote Thank Flag Link Wed Jul 14, 2010
Depends on what type of bad credit you have had. I am not into the financing end of real estate but I have an excellent lender I refer all of my clients to that can answer their concerns and works with them to allow them to get to the point where they can purchase a new home. If you would like his information let me know or call me 8016021048.
0 votes Thank Flag Link Wed Aug 25, 2010
Just how bad is your credit--if you haven't done so yet, do visit with any qualified loan officer(s) first, see if you do qualify, how much, and have your credit score checked, as their scoring is often different. A determination of qualification can be made during your visit.
0 votes Thank Flag Link Thu Jul 22, 2010
The more money you put down on a home, the lower risk you will appear to a lender. The lower risk you are, the better your chances of getting approved for a mortgage.

Having said that, the only way you'll know for sure is if you talk to a lender who can look at your personal situation and let you know if the loan is likely to be approved or not.

Best of luck to you!
0 votes Thank Flag Link Thu Jul 22, 2010
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