I am looking for a home for 100.000 0r less I have 20% to put down but my credit is hammered from recent divorce can i still buy

Asked by true_hawk.const@yahoo.com, Nevada City, CA Tue Jul 17, 2012

I am looking for a small place just me and my two children part of the time i would like to have some privacy so land is more important than house, just need a roof over my head , nothing fancy, just want to buy, I like snow so higher up is cool.

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George Raymo…, Mortgage Broker Or Lender, Fort Worth, TX
Sat Feb 9, 2013
You might be surprised to find out that you can actually qualify for a mortgage. I too had credit issues from a past divorce. I understand these issues because I had to work through them myself. Please read my blog.


Best of Luck!

http://www.trulia.com/blog/george_raymondo/2011/03/can_someo…
Web Reference:  http://www.AFN-Loans.com
0 votes
Scott Hopper, Agent, Grass Valley, CA
Fri Aug 17, 2012
You will want to deposit the 20% down payment into an interest bearing account and then borrow against it. Pay back the borrowed money over 6 month and this will move your credit score resulting in an improved rating. If you do this a few times you should be in great shape.

As to you finding a house in Nevada City for 100k? If you are willing to look in the N. San Juan area you have a good chance. The services are not as plentiful but you will get snow and a home for the price you have indicated.
0 votes
Teri Andrews…, Agent, Auburn, CA
Wed Jul 18, 2012
Hi you should start by talking with a local lender to see exactly how "hammered" your credit is and what loan options you have.

To be honest a $100000. home in Grass Valley area that will be financiable is difficult to find. Not only do you have to qualify for the loan, the home has to also. There are some programs that allow you to finance in repairs, speak to the lender about that too.

You may have some luck above Nevada City towards Washington, Cascade Shores, N San Juan and then in the neighborhoods around Bartlett (near Cedar Ridge school) once in awhile off Butler or Walker.

Start with the lender, then work from what they tell you.
0 votes
Teresa Dietr…, Agent, Grass Valley, CA
Tue Jul 17, 2012
There are some owner financing properties out there at the moment and a few lease options. Lease options can be a little risky however so be careful with that concept. You should sit down with a local lender right away to establish a game plan to get to a readily loan able state no matter what path you take. You may be surprised at some of the simple fixes you can initiate for yourself to make rapid improvements in your credit.
0 votes
Peter Mohyls…, Agent, Destin, FL
Tue Jul 17, 2012
You can probably still buy. You need to get profesional help to get preapproved. Then find an agent willing to work with you
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