Posted on: 09th Apr, 2009 09:10 pm
Hi,
Can any one tell me, Which mortgage options are there for those with poor credit?
I am trying to get answer to this question from long time.
Please any one can help me to know about that ?
Thanks.
Can any one tell me, Which mortgage options are there for those with poor credit?
I am trying to get answer to this question from long time.
Please any one can help me to know about that ?
Thanks.
Hi gunzijjistaff,
Gettting a bad credit loan at a time when the market is not doing well, can be difficult. Even if you do find one, you will have to pay interest at a rate higher than normal. You will also have to put down a lot of cash when closing. What is your credit score like?
Thanks,
Jerry
Gettting a bad credit loan at a time when the market is not doing well, can be difficult. Even if you do find one, you will have to pay interest at a rate higher than normal. You will also have to put down a lot of cash when closing. What is your credit score like?
Thanks,
Jerry
there are "hard money" lenders who will take a flyer on poor credit applicants. rates would be much higher than for decent credit. there are also local credit unions (perhaps - you have to shop around) that might take a flyer as well. you may also find some local community-type banks who'd be willing to make such loans.
there's slim pickins these days.
there's slim pickins these days.
