Posted by admin | Under zero down mortgage
Sunday Jan 10, 2010
A Look At Zero Down Mortgage Loans
Interest rates are steadily going down and so are the prices of homes. Many Americans are looking for a way to get in on really good real estate deals by applying for zero down mortgage loans. This is good way to get your dream home with no or little money down. Many of these loans are for the first time buyers.
There are many mortgage brokers offering specials to attract first time homeowners. Here is a short list of some of the great deals that can be found by either getting on line and applying for them, or calling a loan officer.
1. USDA is offering no money down on homes in select rural areas. Some income restrictions do apply to receive this offer. Not only do the select few get a mortgage with no money down, they also get a low interest rate of around 4.50%.
2. Another great source is FHA. FHA offers borrowers the chance at owning a home for as little as 3.5% down.
The government offers the most popular option, which is FHA. This program looks at the last 1-2 years of payment history to see if there are any questions about the credit of the person applying for the loan. FHA often helps those with fair to moderate credit history. When applying for FHA, there can’t be any bankruptcies in the past two years. The applicant should also have an excellent credit record after the bankruptcy as been discharged.
Owning a home is fairly easy as long as your credit history is fair to moderate. With zero down mortgage loans and the price of homes lowering, it is easier than ever to buy the first home. With the prices of homes and programs such as the ones mentioned, it truly is a great time to buy a home.
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Posted by admin | Under Uncategorized, bad credit mortgage, down payment assistance, low mortgage rate, no money down mortgage, zero down mortgage
Saturday Oct 24, 2009
Posted by admin | Under Uncategorized, no money down mortgage, zero down mortgage
Saturday Oct 24, 2009
Posted by admin | Under bad credit mortgage
Tuesday Mar 9, 2010
Here are my circumstances:
Transunion: 567, Esperian: 537, Equifax: 582
Annual income before taxes: 39,000, I have worked for a year
I own a home: $479 a month taxes included
I have had 8- 30 day late payments in 2 years
I have no other debt monthly, making my debt to income ratio 85/15 (I’m pretty sure)
I paid off my car, no late payments last two years.
I paid off my Providian credit card no late payments past 2 years
I have college loans in deferment until 2008, I’m currently working on my MBA
Now the bad news:
I have had 3 derogatory accounts, that I have just currently paid off, 2 were credit cards, one was a medical bill that never made it to collections I don’t think, so they haven’t been factored into my credit score yet as being settled.
I dont have any credit cards and all I pay a month is $479 on my house that I have owned for about 3-4 years.
First the bad news. Your scores are way low and what really hurts more than anything is the late payments on your mortgage. So even with the low scores, the late payments on the mortgage hurts you the most. The other thing that could hurt you also, is when you paid off your credit cards, you closed the accounts as well. If you paid them off and kept them open, this is a good sign.
Now the slightly good news. Even with your scores you could possibly get a home mortgage, but only with a subprime lender and you would get very high rates. Now if you are buying another home and keeping your current home you will have to put down at least 10-20%, but only if they allow you to buy another home. And even if you are going to sell your current home in order to buy another home, with your scores, you will have to put money down anyway.
But the best advice I have is wait a year so you can have 12 months of on time payments; this will raise your scores. Also if you closed those credit card accounts, see if they will reopen them and if they do, use them and pay them off every month; this will also raise your scores.
Lenders want to lend their money, but they don’t want to lend to people who are late on any secured loans, especially HOME loans. Most people will tell you to wait at least 3 years or more to get your credit scores up. But being that I worked in the mortgage business before I was pregnant (which was last year) and I helped people to raise their credit scores, you only really need one year of on time payments to get a subprime loan. But if you’re going for a prime loan, wait at least 3-4 years of on time payments and please stay on your job as well. The more job time with the same employer, the better. It shows stability!
Right now your middles score is a 567
So here are some Credit Score Goals below.
SubPrime: 580 middle score
Prime: 680 middle score
Best Interest Rates: Over 720 middle score
Hope this helps!
Posted by admin | Under no money down mortgage
Tuesday Mar 9, 2010
Posted by admin | Under bad credit mortgage
Monday Mar 8, 2010
MORTGAGE LOANS Bad Credit Mortgage If you’re a first time home buyer, we offer a variety of loan programs to assist you in making your first time home purchase decision – even with bad credit problems or after bankruptcy. Bad Credit Home Equity Loan Our online application is the fastest and easiest way to apply for a home equity loan. We are dedicated to serving you with competitive rates and outstanding customer service – Regardless of Credit Problems we can get your home equity loan approved! Borrow up to 125% of your homes value and use the loan for any purpose. We offer low fixed interest rates. Bankruptcy or Bad Credit Problems, Ok! Complete our online application.Bad Credit Mortgage Refinance You can refinance your existing home mortgage to lower your interest rate, increase tax advantages, get a lower monthly payment, or simply get cash out for anything you need. Whatever your purpose, we have several mortgage refinance programs designed just for you – even with bad credit problems. Bad Credit 2nd Mortgage.Our goal is total customer satisfaction. Our business has been built through helping people with bad credit or bankruptcy get there second mortgages approved! Home Improvement Loan Whether you have bad credit or bankruptcy, we have a program to help get you’re Home Improvement Loan Approved! No Equity Required. We offer Special Home Improvement Loan Programs that are simple to get approved for. Have you been turned down form other loan companies? Completely Remodel your home or improve your Landscaping, Add a Swimming Pools & Spa, Need a New Roof? Time for a Deck, or New Carpet? You can do the work yourself or hire a contractor. Complete our online application. Manufactured Mobile Home Loans Want to buy a mobile home, but are afraid of being turned down for a loan because you have too much debt? We can help even if you have past bad credit problems or bankruptcy. With our manufactured mobile home loans, you may be able to get the money you need to buy a manufactured home and pay off debt! to learn more about this life changing offer, please visit our website at PrivateFastloans.com
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Posted by admin | Under bad credit mortgage
Sunday Mar 7, 2010
I am trying to pay off bills and my bad debt and get my financial life in order. If I could get my hands on a loan and pay everything off and have one monthly payment, I could breathe alot easier! HELP!!!!!!!!
Try this site. I believe they can help you get an unsecured loan. Good Luck !
Posted by admin | Under no money down mortgage
Sunday Mar 7, 2010
Certainly, but you have to find a very cheap house to buy.. 
The size of your mortgage payment is based upon how much you borrow, your interest rate, and the number of years you will receive to amortize the loan fully.
Obviously, the less you borrow, the lower the rate, and the longer the term, the smaller your payment will be.
If you are asking if you can borrow a whole bunch of money and make small payments, the answer is NO.
Posted by admin | Under down payment assistance
Saturday Mar 6, 2010
Toledo OH Real Estate_Ask Dede_14_tax credit down payment use announced by HUD Secretary. Details of how to use the First Time Homebuyer Tax Credit for down payment. Go to http://www.ItsRainingRealEstate.com for a link with more information.
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Posted by admin | Under bad credit mortgage
Saturday Mar 6, 2010
MORTGAGE LOANS Bad Credit Mortgage If you’re a first time home buyer, we offer a variety of loan programs to assist you in making your first time home purchase decision – even with bad credit problems or after bankruptcy. Bad Credit Home Equity Loan Our online application is the fastest and easiest way to apply for a home equity loan. We are dedicated to serving you with competitive rates and outstanding customer service – Regardless of Credit Problems we can get your home equity loan approved! Borrow up to 125% of your homes value and use the loan for any purpose. We offer low fixed interest rates. Bankruptcy or Bad Credit Problems, Ok! Complete our online application.Bad Credit Mortgage Refinance You can refinance your existing home mortgage to lower your interest rate, increase tax advantages, get a lower monthly payment, or simply get cash out for anything you need. Whatever your purpose, we have several mortgage refinance programs designed just for you – even with bad credit problems. Bad Credit 2nd Mortgage.Our goal is total customer satisfaction. Our business has been built through helping people with bad credit or bankruptcy get there second mortgages approved! Home Improvement Loan Whether you have bad credit or bankruptcy, we have a program to help get you’re Home Improvement Loan Approved! No Equity Required. We offer Special Home Improvement Loan Programs that are simple to get approved for. Have you been turned down form other loan companies? Completely Remodel your home or improve your Landscaping, Add a Swimming Pools & Spa, Need a New Roof? Time for a Deck, or New Carpet? You can do the work yourself or hire a contractor. Complete our online application. Manufactured Mobile Home Loans Want to buy a mobile home, but are afraid of being turned down for a loan because you have too much debt? We can help even if you have past bad credit problems or bankruptcy. With our manufactured mobile home loans, you may be able to get the money you need to buy a manufactured home and pay off debt! to learn more about this life changing offer, please visit our website at PrivateFastloans.com
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