Home Buying in 15062>Question Details

Lindsey Mill…, Other/Just Looking in 15062

What are the chances of getting approved for a loan with bad credit and no down payment? I know it's a silly question, but I'm curious.

Asked by Lindsey Miller, 15062 Mon Jan 3, 2011

I was looking at this property: http://www.trulia.com/property/1071555709-1197-Graham-Ave-Mo… . Not that pricey. Looking to move for school and fell in love with this home. But maybe I'd be better off renting.

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Hello....I work for a legal consumer firm that helps to resolve those type of credit issues. Please give me a call to see if I may be able to help...that is if you’re actually looking to get the situation rectified.

Sergio Marshall
972-231-0452 ext 109 http://www.whitejacobs.com/sergio-marshall
0 votes Thank Flag Link Mon Apr 28, 2014
I was looking at this property...seems like a good price...my credit is not that good but my husbands is great. What are the chances of me getting approved for a loan with a bad credit score and no money down. I'd like to first sell my current home and use whatever I have left on the new one...
0 votes Thank Flag Link Mon Apr 28, 2014
Hi Bridgette--If your husbands score is good--you may be able to use the USDA program. It requires very litle to no money down--if the property qualifies. You need to contact a loan originator with your information and see.
Flag Mon Apr 28, 2014
Hi Lindsey,

Unfortunately this home does not qualify for a USDA loan. Yet if you'd like to move for the school district other homes near by do. You can see which would at USDA.gov it will provide you with a map. I believe they currently have 100% financing but I can't remember the credit score requirements. Maybe a mortgage broker could help you with that question. If you would like me to recommend one I work with just let me know. Hope that helped some.
0 votes Thank Flag Link Thu Mar 3, 2011

VA is the way to go if you are a Veteran, if not then you might want to try FHA. We require a 620 credit score and only a 3.5% down payment. We also work with companies to fix your credit if you are interested. Good luck.

Best regards,

Stan Bril
Branch Manager
GFI Mortgage Bankers, INC.
275 East Street Road, Suite 4
Feasterville Trevose, PA 19053
Office 267.988.4013
Toll Free 877.409.3377
Fax 215.689.0957
Cell 215.681.2444
0 votes Thank Flag Link Thu Jan 13, 2011
The only way to get 100% nowadays is with a VA loan . . . . .
0 votes Thank Flag Link Mon Jan 3, 2011
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