Posted on: 06th Apr, 2010 06:33 am
We are using all our savings to purchase our first home (cash)...Home does need repairs...Can we use the title from the home to obtain a loan to fix the place? or what kind of loans are available to us...I have bad credit..My husband has none?
Thanks
Thanks
bad credit combined with no credit isn't a favorable situation. you may find a non-traditional lender with private money to help you out. owning in full by paying cash may persuade someone to assist you, but be prepared to pay a higher interest rate than anything you may have seen advertised by conventional lenders.
a smaller, community bank or a credit union might have some feelings for you in this situation - your job histories and income will certainly help out if they're favorable.
a smaller, community bank or a credit union might have some feelings for you in this situation - your job histories and income will certainly help out if they're favorable.