how can i get in touch with a private lender in detroit?

Asked by Patricia Washington, Detroit, MI Sat Jul 17, 2010

tring to buy a house thats $35k and i have a low credit score of 572 so i fear thast i cantget a loan from a bank or credit union. i have money to put down. can anyone help me PLEASE!!!

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6
Pam Bava, Agent, Rochester, MI
Sat Oct 29, 2011
You may also want to be careful about posting too much information about yourself on line. Meet with a lender and discuss your needs they will be able to tell you what you qualify for.

Good luck
0 votes
Hardmoneymi, , Huntington Woods, MI
Sat Oct 29, 2011
One of the only licensed private lenders left in the Detroit area is Metro Mortgage Investments, for more information go to http://www.metro-mi.com or call the office at (248) 547-3006. Be cautious of private unlicensed individuals who offer financing by land contracts or mortgages, many are unaware that they are limited to interest rate and terms and very often violate Michigan and Federal lending laws. Find a reputable company that is local.
Web Reference:  http://www.metro-mi.com
0 votes
Eric Veronica, , 43620
Mon Jul 19, 2010
Patricia,

After reading your post I wanted to elaborate a little further. We are dedicated to reestablishing SE Michigan including the city of Detroit. Please feel free to give me a call anytime and we can discuss some alternative mortgage options that don't necessarily require a 620 credit score.
0 votes
Dp2, , Virginia
Sun Jul 18, 2010
Sorry to hear about that, and I'll keep you in my prayers.

If you're open to doing something a bit more creative, then please feel free to contact me for more details. I'd like to discuss a strategy with you that would help you to acquire that $35K property without needing to take out a loan. In a nutshell, you'd end up using a portion of that $7K as an EMD to tie up the property (assuming you already have something specific in mind), use the remainder to generate the balance, and close with all cash.

On the other hand, if you'd simply prefer to go the loan route, then we can discuss that further too.
0 votes
Patricia Was…, Home Buyer, Detroit, MI
Sat Jul 17, 2010
i have $7k to put down on the home and this will be my home which i will be living in. I'm currently homeless right now due to bad choices in men...lol, sad but true, anyhoo I'm looking to move asap because i loss my sister in the process who is mentally challenged and i cant get her back until i have a stable place of my own. i have a good paying job at a steel mill and have been with the company for over six years. i recently was able to try to get my credit right and have paid everyone i owed from the past which is haunting me because now that im a little older (27) and have a good job i was able to but that still didn't help my score at all. so here i am in need of a loan to buy a home
0 votes
Dp2, , Virginia
Sat Jul 17, 2010
Are you trying to buy a new residence or an investment property?
How much can you put down?
How soon do you want/need to move on this?
0 votes
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