Financing in 71446>Question Details

Kathy, Home Buyer in Louisiana

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

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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.
954-764-7064 ext.203
0 votes Thank Flag Link Mon May 12, 2008
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 Thank Flag Link Sun May 11, 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

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0 votes Thank Flag Link Wed Jan 16, 2008
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