Home Buying in Destrehan>Question Details

Bryan, Home Buyer in 70047

Need Advice

Asked by Bryan, 70047 Mon Aug 4, 2008

Need to move soon. Found a house we love in Destrehan (180k). The problem is my credit. The good news is I do have up to 90k for a down payment. We need to move soon and I do not want to get an apartment, fix credit buy house, move again.

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9
call me if you want some numbers on a lady that may be able to help you
i am local realtor in St. Charles Parish
0 votes Thank Flag Link Wed Aug 6, 2008
Eustis Mortgage

Comments? Opinions?
0 votes Thank Flag Link Tue Aug 5, 2008
and the name of this new orleans bank is??
0 votes Thank Flag Link Tue Aug 5, 2008
Meaning, you go to Countrywide, they plug your numbrs into a system. If the numbers are 3 points off, oh well sorry, we cant give you a loan. Or say you are just off on your debt to income ratio, oops, not going to be able to do that.

This is a legit bank, but the underwriters are in the same office, not a corporate office in CA. They can stretch limits easier.

I am not saying this is a sub prime lender, I am just saying this bank can lend money easier than the big guys.

Don't tell me about the problems with this nation, with exclamation points.

My bank is legit, been in business in New Orleans for over 50 years, and I guarantee they give you better rates than you would get from CW, Suntrust, Aurora, Omni, etc.

!!!!!!!!
0 votes Thank Flag Link Tue Aug 5, 2008
A bank that lends itd own money and dont have to listen to broker requirements for credit??

Bank of Guido? GodFathers Saving and Loan??

Legit banks require that you can prove to them that you can repay the loan! Too much subprime bad lending practices is what caused the problems seen in this nation!
0 votes Thank Flag Link Tue Aug 5, 2008
If you would like some financing help, let me know, I deal with a local bank who lends their own money (they are not a broker and do not have to listen to broker requirements for credit, etc.) I use them for my properties and they are fair and reputable.

realtorcraig@cox.net
0 votes Thank Flag Link Mon Aug 4, 2008
Good advice, A good agent should be able to structure a lease to own deal. But ask yourself one question, in two years is this the home I will want to live in? Look at your job growth and life style changes. The down side of lease to own is if something changes you can loose your deposit. Also if you do this make sure the faster you buy the better the price. Get your mortgage person to estimate how long the credit clean up will be. It can work but be careful.
0 votes Thank Flag Link Mon Aug 4, 2008
Just ask the owner finance home sale. Put a offer in on the property and make the terms similar to a bank financing the deal. I'm sure the owner would be glad to take 90k for a down payment and finance the rest of the deal until your credit gets better. If you have any questions about this method please feel free to contact me.

P.S. If anyone says they can fix your credit for a fee RUN for the hills.
0 votes Thank Flag Link Mon Aug 4, 2008
call Erika with Trident Mortgage at 250-2354. Tell her Ian sent you and you need help with the financing issues.

Take a look on this page of my website to help you work through the numbers while talking to her to make it easier for you to get a better idea of what to do.
0 votes Thank Flag Link Mon Aug 4, 2008
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