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i need a home loan and we have bad credit

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Joined: 03 Oct 2009
andyth's page
Posts: 48

67 Magic Points

Posted on Mon Nov 09, 2009 2:25 pm  

for FHA loan the credit score required will be 600+ and for conventional home loan 740+.

These are the standards but there are some loacl lenders who can provide you the expected loan.

I think you should contact local lenders they might help you.

Bye the way please clarify your location, so that anyone in forum may help you to find out local lenders who can fulfill your loan demands.

Subject: questions about fha loan
Posted on Wed Nov 11, 2009 6:30 pm  

My husband and I have credit scores over 630 can we qualify for 100% financing with a fha loan?

Joined: 27 Oct 2009
marcusandila's page
Posts: 133

3037 Magic Points

Posted on Thu Nov 19, 2009 1:13 am  

FHA never finances 100%. they require a minimum downpayment of 3%


Joined: 02 Dec 2008
Doc's page
Posts: 178
Location: McKinney, TX

1362 Magic Points

Posted on Thu Nov 19, 2009 12:57 pm  

Different lenders can do loans at different scores, but the rates vary greatly... The minimum on FHA right now is 620, but it's likely to go up after the first of the year...
-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site...
You can also get tons of information here!

Joined: 26 Feb 2008
fireyone's page
Posts: 4246

142 Magic Points

Posted on Thu Nov 19, 2009 4:11 pm  

Three percent really is not a lot to put down depending on the price. That too me seems to be on the low side. I have yet to see a lender finance a home 100%. There is a big risk to themselves doing this.

Joined: 27 Oct 2009
marcusandila's page
Posts: 133

3037 Magic Points

Posted on Fri Nov 20, 2009 5:29 pm  

when i financed my first house 2 years ago, i got 100% financing [not FHA though]. In the current real estate market though/the economy, I think 100% financing is a long shot for anyone like you said fireyone.

I was just talking to my grandma and apparently it was on the news that MORE foreclosures are projected over the next 2 years due to balloon mortgages going up & people losing jobs and not being able to afford the higher payments.

It is scary...

Subject: loan offer
Posted on Fri Dec 17, 2010 4:27 am  

Need cash urgently? Bad debt? Bad credit record? Rejected by Banks and Other Financial Institution? YOU do not meet the Criteria to apply for a loan? NEED loans / financing for your personal or business? "Fear not. We are licensed moneylender. We PROVIDE short / long term loan. Fast approval. 100% guaranteed
I loan money out to Individuals in need of Financial assistance.Do you have a bad credit or you are in need of money to pay bills? "I want to use this medium to inform you That I render reliable Beneficiary assistance as I'll be glad to offer you a loan. contact us via email,
wendy paul

Subject: home loan
Posted on Wed Mar 07, 2012 7:04 am  

country - usa state -ga 2293251541 162 hudson road fitzgerald female single 65,000 3,000 a month im a single parent an my credit is poor i need a bigger house my husband died oct 30,2008

Subject: need home loan
Posted on Tue Jul 31, 2012 12:26 am  

i am in need of a home loan but my credit score is low due to a past divorce, most of the things on my credit report are over 7 yrs old, i make 3500 month and i am currently leasing a home paying 675 a month. I am getting remarried and we really need a new home, what can i do?

Joined: 12 Sep 2013
rblack's page
Posts: 40

215 Magic Points

Posted on Tue Oct 08, 2013 2:40 pm  

Try to improve your credit by following the points mentioned in the above replies.
tammy simon

Posted on Mon Oct 14, 2013 4:10 pm  

I have bad credit I need help with getting a loan

Joined: 12 Sep 2013
rblack's page
Posts: 40

215 Magic Points

Posted on Tue Oct 15, 2013 10:57 am  

Start with repairing your credit report by paying off your current bills on time. You can prepare a budget plan and save money to make down payment on the loan. Once the lender finds that you've paid off your dues and have adequate savings for paying off the debt, he may agree to give you a home loan.
ms velasco

Subject: purchase a home
Posted on Tue Jan 28, 2014 2:32 am  

I have no credit how can I get a home loan
kenneth sloan

Subject: want to buy home i have been renting for 9 years
Posted on Tue Feb 18, 2014 2:09 am  

I been renting this house for 9 years the landlord is giving me a chance to own it. the house is worth 25.000 I can get for 12.000 .I have 2000 I am looking for a 10.000 dollar loan to buy home.

Joined: 02 Jun 2014
Shierra89's page
Posts: 4

26 Magic Points

Posted on Mon Jun 02, 2014 1:57 pm  

I too have been in the market for a home loan for almost a year now. I have been calling and comparing my options against one and another, trying for the best fit for us. For the same amount of money borrowed, some companies require X amount per month while others are less.

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