Financing in Baker>Question Details

Kslemons, Home Buyer in Baker, LA

Is there any way a lender will loan my husband and I 75,000.00 for the purchase of a home, with little to no money down?

Asked by Kslemons, Baker, LA Mon Apr 30, 2012

To Whomever This May Concern:

I am borderline desperate to purchase a home; however, there are problems. I have only been employed 11 months at the same job (with the state of Louisiana). Prior to my 11 months, I took a year off because I had just gotten re-married. Prior to the year off, I worked for 8 years at the same company. My credit was in the dumpster due to my previous marriage but I have worked very hard over the course of the last year and have brought my score to 656 according to CreditKarma - 665 Vantage (whatever that is). My husband's credit score according to Credit Karma is 555 and he just started new employment a month ago; however, worked in the same field for the last 8 years. Our combined monthly gross income is 4400.00. Is there anyway, any lender will loan us roughly 75,000.00 to purchase a home? Any advice is definitely appreciated!

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Help the community by answering this question:


I agree re the credit scores. It is best to work with a good mortgage broker. I have had clients in the past with credit scores in the 500's and they worked with the client to get the credit scores where they needed to be . Sometimes it is little things you can do to get the scores up.
As to no downpayent, the best loan is a Rural Development loan. This is a government loan with no downpayent. Baton Rouge and Baker are not included, but all surrounding areas are. Central, Zachary, and all in between.
Hope this helps and good luck!

0 votes Thank Flag Link Mon Apr 30, 2012
There is always a solution. Give me a call, in Baton Rouge, off of S Sherwood

Mortgage Financial Services
NMLS no 111674

0 votes Thank Flag Link Mon Apr 30, 2012
The problem is the credit scores you mentioned. If you have a 665 vantage score, that will be much lower when a lender pulls it; the 555 will be even worse. It's highl doubtful you will qualify and you should have an actual lender pull your scores to know where you stand. The scores you get online are not useful when trying to determine qualifications for a mortgage.
Web Reference: http://HarpSupport.Com
0 votes Thank Flag Link Mon Apr 30, 2012
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