Home Buying in Howell>Question Details

Glenna, Home Buyer in Michigan

I need help prequalifying for a purchase. Low or no down and not great credit.

Asked by Glenna, Michigan Tue Aug 12, 2008

Help the community by answering this question:



I would reccomend what is called a rural development loan. I do know of a great mortgage company that I have had other clients use: Michigan United Mortgage (MUM). If you need more information regarding them i would be more than happy to help you out with that or any other real estate needs.
0 votes Thank Flag Link Wed Nov 18, 2009

One of the most popular loans out there right now for buyers in you situation seem to be the rural development loans. You can e-mail me and I can certainly point you to some very honest and straight forward lenders in the Howell area.
Web Reference: http://www.chuckwilks.com
0 votes Thank Flag Link Wed Jan 14, 2009
Why choose an FHA-insured loan?
There are lots of good reasons to choose an FHA-insured loan, especially if one or more of the following apply to you:
You're a first-time homebuyer.
You don't have a lot of money to put down on a house.
You want to keep your monthly payments as low as possible.
You're worried about your monthly payments going up.
You're worried about qualifying for a loan.
You don't have perfect credit.
If any of these things describe you, then an FHA-insured loan may be right for you. Why? FHA-insured loans offer many benefits and a level of security that you won't find in other loans including:

Low cost: FHA-insured loans have competitive interest rates because the federal government insures the loans for lenders.

0 votes Thank Flag Link Mon Dec 8, 2008

I suggest trying someone local like http://mumloans.com Michigan United Mortgage in Brighton. They offer free pre-approval according to their website.
Web Reference: http://mi-living.com
0 votes Thank Flag Link Wed Aug 13, 2008
What is it that has you have bad credit? Do you have collections? You may want to pay them off. You can negotiate them in they are in collections.
0 votes Thank Flag Link Tue Aug 12, 2008
Hi Glenna:

Well, you've come to the right place for answers. There are rural loans that offer very attractive down payment options. Also, if you're a first time home buyer there is a new $7500 tax credit from the government, plus FHA is doing some adjusting to their requirements. It's a great time to buy. I have several excellent mortgage contacts for you and I'd be more than happy to assit you in your home search when you're ready.

Feel free to visit my website at: http://www.ClickThisHome.com where you can search the same list of homes that Realtors use to search for homes for their clients. My website allows you to save your favorite searches as well as favorite homes for future reference.

Drop me a line if you'd like more info or just visit my website.

Lisa Bender
0 votes Thank Flag Link Tue Aug 12, 2008
good morning glenna....i would be glad to help you....i have done tough mortgage financing for almost 14 yrs..please call at your convenience..best regards.....bob mcclure- mortgage now- farmington, michigan (248) 974-4444.....
0 votes Thank Flag Link Tue Aug 12, 2008
Glenna - I would check into FHA loans which require 3% down and are not entirely based on credit scores and the Rural Development and MSHDA loans that are still a true 0 down loan. There are great agents on Trulia that work in the Howell area that will suggest a great lender I'm sure. Good luck!
Web Reference: http://www.sonyaloose.com
0 votes Thank Flag Link Tue Aug 12, 2008
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