Comments on: How to purchase first home when person has bad credit?

By: .Flawda Gata Boi.

*.*Flawda Gata Boi*.* — Fri, 29 Jan 2010 02:58:43 +0000

bad credit can be a hard thing to repair. This is a great article and gives some great advice. about 42 days ago i managed to raise my credit over 100 points after i found out about. i had nothing to loose and now i have my life back under control.

By: William

William — Tue, 26 Jan 2010 07:17:46 +0000

buildcredit.ifastnet.com – try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.

By: Green hand wikipedia

Green hand wikipedia — Fri, 22 Jan 2010 23:51:27 +0000

I am looking forward to finding some special comment that You Can Easily Get A Loan Up To $100,000 In Less Than 7 Days. Some Can Borrow with no Credit Check, No Collateral, No Proof Of Income, No Interest Fees,
The link is write below:

By: Realtoratheart

Realtoratheart — Tue, 19 Jan 2010 13:06:05 +0000

First of all, only a lender can tell you that. They need to consider your whole financial picture. We can only guesstimate and you can’t spend that.

If you know you need to work on your credit score, then I suggest you do that first. In a year’s time you can significantly improve your score through on time payments or paying off debt.

In today world they say you have to have a credit score of 740 to get all green lights, otherwise the rate on a loan can be high or terms less desirable. You wouldn’t want to make things worse for yourself.

Credit today is precious. We lost our home to foreclosure last year. All other bills were paid on time for 30 years! Yet US Bank decided we were a risk and in a heart beat $30,000 credit limit was reduced to $1300. Our monthly expenses were ranging around $2500-$3000 obviously not enough to continue spending like we were. But I don’t know too many folks you can live on $1300 a month for everything. Credit had become the only way we paid for things. We always paid the balance when the bill came. So they had to valid reason for doing this to us, in effect kicking us when we were down. But we survived, we handle money differently, and as soon as we can, we plan to drop US Bank from our lives forever! We’re already receiving offers from other credit card companies. Sorry for rambling, but you get my point. Best of luck

By: Your #1 fan

Your #1 fan — Sat, 16 Jan 2010 23:39:19 +0000

If you have bad credit you will not be able to get a home loan. Many people will tell you otherwise. There are still some shady banks and financing companies offering subprime mortgages for high interest rates. DO NOT go for that. Banks are barely looking below a 720 threshold for mortgages now and some want an even higher score and 10% down. The only way you could do 5% down is if you or your spouse work at a bank which has a home ownership program or maybe the FHA.

By: Paul Zucchini

Paul Zucchini — Sat, 16 Jan 2010 13:20:54 +0000

Go to your local library, ask the librarian for a book about buying real estate. They will give you a book with all the info, you need to read that to get started.

By: blue_skies_ahead_88

blue_skies_ahead_88 — Wed, 13 Jan 2010 22:24:25 +0000

First things first… the bank or loan broker will NOT look at you if you don’t have at least 10% of the homes price for a down payment, if you can save as much as possible for the down payments even up to 40% of the home the better it is for you. So if you are looking at a house that is $100,000, you need $10,000 cash to put down. So, first things first….save the down payments. Also, keep credit cards down and always make more then the minimum payments monthly. Make all bill payments on time.

Second thing.. try to keep a job with the same company for at least one year or more. Banks do not even offer loans to people who have not had a steady job for one or two years straight.

Once you have number one and two done, you go to the bank and ask to speak to a Financial Advisor. They will ask you how long you’ve had a job, and how much you have for a down payments. Then you bring in your tax receipts that you get at the end of the year to show how much money you make. Then they will tell you how much they will pre-approve you for a mortgage. It’s best to get pre-approved, so you don’t go through all the hassle of looking for a home, finding a home you love, get all excited to move in, then you don’t get the money and you can’t move in. Much better to have the money end figured out before you even look at houses.

Once you have an amount for a mortgage, find a real-estate agent and tell them how much you can afford, and then you look for a home. Be prepared your first home will NOT be your dream home. Once you find a home then you need to contact a lawyer and there are many titles that need to be transferred.

Once you get pre-approved for the mortgage, the real estate agent and a lawyer will help you with everything else.

By: Sant Cpell

Sant Cpell — Mon, 11 Jan 2010 11:03:18 +0000

Homeless people do not have homes.