looking to buy my first home ,and was looking for a bank to loan me the money even though my credit is not good

Asked by fashionwright, Brooklyn, NY Wed Mar 14, 2012

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Javier Menes…, Mortgage Broker Or Lender, Melville, NY
Wed Mar 14, 2012
What you need to do is meet face-to-facewith a loan officer. You'll need to find someone who is willing to take a close look at your credit and walk you step by step as to what you need to do in order to be in a position to be eligible for a mortgage, not someone who will abandon you the moment they smell a low FICO score.

I can tell you that a good percentage of my clients need some sort of credit repair prior to becoming approved for a loan. I DO NOT recomend for you to go with a credit repair company. They will cost you money for what myself and other good loan officers would do as part of jobs with any additional expense.

Good luck! If you need, feel free to contact me directly.

Javier Meneses
Sterling National Bank
1 vote
Voices Member, , Denver, CO
Wed Mar 14, 2012
I think your best bet is to wait a few months and fix your credit. There are specialists that can help you for a fee. If you can not wait then get in touch with a few banks, tell them your situation and see what they say. They are more than likely going to tell you to fix some if not all of the problems on your credit anyway.
1 vote
Annette Levi…, , New York, NY
Thu Mar 15, 2012
Go to your local non profit housing group for credit counseling. The counselor will go over your credit report with you. They will tell you what you are doing wrong and what you should be doing. Listen to them and when your score is 640+ you can think of buying.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Wed Mar 14, 2012
There are other factors besides credit that determine mortgage qualification, such as income, debt, etc.; therefore for a personalized answer regarding qualification visit with any licensed loan officer; at the very least, if you don't yet qualify, he/she may offer great suggestions as to what needs to be done.
0 votes
Luke Constan…, Agent, Brooklyn, NY
Wed Mar 14, 2012
It's best to shop around when you look for a mortgage, so you can get the best rates. You’re better off going to a secondary mortgage company. You get the same product (loan) as you do from the bank, but at a lower rate. Good luck in your home buying journey. If you need any help, feel free to email, test or call me antime.
0 votes
Mitchell Fel…, Agent, Brooklyn, NY
Wed Mar 14, 2012
Dear fashionwright:

You need to get in touch with a mortgage banker and get yourself pre-qualified. You will need to show them your last two years tax returns and income statements, last three months bank statements and of course they will want to view your credit report. Only then will you be able to get a definitve answer.

If your credit will prevent you from getting a mortgage, the banker can advise you what you can do to fix your credit and how long that will most likely take. If I can be of further assistance, please let me know. Good luck!

Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes
Jack Menashe, Agent, Brooklyn, NY
Wed Mar 14, 2012
You need a pro.
Alex 917-520-1515 cross River
Larry (917) 696-2360 Investors
Or Mike 9176044320 HSBC

Good luck!


Jack Menashe
0 votes
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