Home Buying in Sherwood Park>Question Details

Kin, Home Buyer in Sherwood Park, Detroit...

what housing programs are there for someone who is a first time home buyer but has bad credit?

Asked by Kin, Sherwood Park, Detroit, MI Sat Mar 19, 2011

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5
Colandra Moore’s answer
Citizens Bank has a great new mortgage product out that will definitely be
able to help your clients and investors get approved for loans w/ less money
out of pocket. They also work with credit scores in the 500s and finance homes are low are 15k. Here is the contact information for you. I will be more than happy to work with you to find a great home for you. Please give me a call.

Eric Veronica
Mortgage Client Service Consultant
Citizens Bank
39520 N. Woodward Suite 101
Bloomfield Hills, MI 48304
248.430.1268 (office)
248.430.1279 (fax)
Eric.Veronica@citizensbanking.com

Colandra Moore
Vision Realty Centers
313-346-2626
cmoore@visionrealtycenters.com
0 votes Thank Flag Link Sun Mar 20, 2011
Contacting a mortgage professional would be the best place to start. Once you find out exactly where your credit score is the mortgage professional could find the correct program for your situation. I am a mortgage broker and I work with lenders who will loan to borrowers with scores as low as 580. Give me a call if you are interested I would be happy to assist you with this matter.

Jim McDonald
616.604.4668
0 votes Thank Flag Link Sat Mar 19, 2011
As a real estate professional in Michigan I am frequently asked about assistance in purchasing a home. A good place to start looking for help is your local MSHDA office.
The Michigan State Housing Development Authority, provides financial and technical assistance through public and private partnerships to create and preserve safe and decent affordable housing.

http://www.michigan.gov/mshda

for real estate questions, check the web site below, or contact:

Chip Andis ~ Buyer’s Agent
Cell (248) 931-0084

Chip@Realfi.com

REALFi
REAL ESTATE AND FINANCE IN ONE
34 S. Telegraph Rd
Waterford, MI 48328
Office (248) 886-0000
0 votes Thank Flag Link Sat Mar 19, 2011
Kin:

Good Afternoon!! You should consult a loan officer to find out exactly where your credit stands. Your other options are lease to own and or land contracts. Bank of America has programs which offer 2500.00 in closing cost assistance for 1st time homebuyers. Lighthouse of Oakland also has programs available for 1st time homebuyers as well as financial counseling for clients with credit issues. Feel free to give me a call or e-mail if you would like additional assistance.

Thanks,

Karen Paytas, GRI, CMS
Realtor
Real Living Kee Realty
586-709-8465
kpaytas@mirealsource.com
0 votes Thank Flag Link Sat Mar 19, 2011
Much will depend on just how bad your credit is and your overall financials and debt, therefore consider visiting with any qualified loan officer, after reviewing your overall finances, a determination on qualification can be made; if you don't yet qualify, your loan officer may offer great suggestions as to what needs to be done in order to qualify in the near future.
0 votes Thank Flag Link Sat Mar 19, 2011
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