Dec 18, 2008 by Kelly D | Posted in Renting & Real Estate
Have a credit myriads of around 620-640. Past wage garnishment (a year ago) but paid off early. Past car repossession (objective for the garnishment.) Other small things charged-off. Only looking for a mortgage loan of $25K or less with $10K for down payment. With todays terseness, is there any chance of finding a mortgage company? What kind of rates would I be looking at?
I won't says it's unrealizable - only a lender who can look at your actual data could say that - when people over 700 can't always get loans, I'd say the chances aren't eminent.
You have nothing to lose by checking into it though. Just go talk to a couple of lenders and find out. Having a down payment would be a colossal help to you.
There are some mortgage lenders that will approve you for a loan without making you pay off any derogatory difficulties with a middle credit score of 500. BUT, you would have to put money down. If your middle credit score is 580 or above you can get 100% financing and perhaps a 6% seller contribution, getting you into your new living quarters with no money out of your pocket? Do you have any idea what your credit score is? What is the loan scenario? Are you a borrower or credit officer looking to place a loan?
My partner an I are trying to purchase a home. Our scores are bad. How do we know what to pay off? Are there companies that will help us?
freecreditreport.sinfree.net - try this amenities to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest measure.
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I won't says it's unrealizable - only a lender who can look at your actual data could say that - when people over 700 can't always get loans, I'd say the chances aren't eminent. 
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