is it easy to buy a new home if you dont have good credit but have a huge down payment?

Asked by Kathy, Louisiana Wed Jan 16, 2008

Help the community by answering this question:

+ web reference
Web reference:

Answers

3
Ryan Branden…, Mortgage Broker Or Lender, Boca Raton, FL
Mon May 12, 2008
Income, Income, Income. You must be able to show that you can make the monthly mortgage payment no matter how much you put down. Credit is important of course but usually an easy thing to correct. Income on the other cannot be corrected or changed because it is all verified through tax returns and pay stubs.

Call me if you likeand I can go over a purchase scenarion with you and see what you qualify for.
Ryan
954-764-7064 ext.203
0 votes
Bay Jackson, , Shreveport, LA
Sun May 11, 2008
Kathy,
It depends on several key factors. Your mortgage officer will look at your credit score, your credit history, your income to debt ratio, your employment history, the amount of your down payment, etc. It all depends on what made your credit score low. Do you know what caused you credit score to be low? I would be happy to discuss this in detail and private at your convenience. My contact information is on my website. Best of luck!
0 votes
David Patter…, , 29229
Wed Jan 16, 2008
I wouldn't necessarily say easy. It is possible. I would find a bank or reputable mortgage company that does FHA or no-doc loans. Good Luck in your real estate pursuit.

David A. Patterson, Broker CRS ABR
Russell & Jeffcoat Realtors, Inc.
5219 N. Trenholm Road
Columbia, SC 29206
(803) 960-5231

Visit My Blog - Your Comments are Welcomed
http://columbiasouthcarolinahomes.blogspot.com/

http://www.sellinghomesisourbusiness.com
http://www.davidpatterson.net

Great service begins with a clear purpose!
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more