Posted on: 09th Oct, 2010 06:39 pm
there is a duplex in the local paper for sell both sides new elec., roof ,.siding, doors and windows still needs minor work asking 23900 question is i think the property is assessed at around 40k i have no credit but want to buy this home and about 5k down what are my chances and where do i start?
Hi snakebite,
As you don't have any credit, the conventional and FHA lenders will not be ready to give you a mortgage. You can contact the local lenders offering personal property loans and check out whether or not they can help you with a loan. However, you should note that such loans will be available at a higher interest rate.
Thanks,
Jerry
As you don't have any credit, the conventional and FHA lenders will not be ready to give you a mortgage. You can contact the local lenders offering personal property loans and check out whether or not they can help you with a loan. However, you should note that such loans will be available at a higher interest rate.
Thanks,
Jerry