Posted on: 08th Jun, 2009 11:17 am
I have been denied an FHA loan due to bad credit in 2003...I have a co-borrower and together our income is great but the credit is not...should we bother trying to get approved by a credit union?
credit unions, especially those who may not participate in the secondary mortgage market, may well be a great alternative for you. check with those in your area with which you may become affiliated and see if they are able to grant loans and retain them rather than selling them.
depending on your credit history, and perhaps your history with a credit union you may have done business with previously, that might just get you the loan you are seeking.
depending on your credit history, and perhaps your history with a credit union you may have done business with previously, that might just get you the loan you are seeking.
Doesn't hurt to try, you typically have about a 10 - 15 day window to shop around for a mortgage. Touch base with a reputable broker in your area if the credit union doesn't work, they may be able to find a lender that will take your loan if a regular bank will not. Good luck
danielle1878
Welcoem to the forum.
When you say bad credit score, can you share soemdetails on how much is your score.
Also if you can probably a good idea to work on improving your score and then look at the option of buying a house. Prcies are either goign down or stay where they are today.
Good luck and feel free to ask
Welcoem to the forum.
When you say bad credit score, can you share soemdetails on how much is your score.
Also if you can probably a good idea to work on improving your score and then look at the option of buying a house. Prcies are either goign down or stay where they are today.
Good luck and feel free to ask
