Below is my situation
I have a low credit score 500 (never declared bankruptcy, Never had a loan go in to default or had a debt written off). I’m just young have very litle credit history except for credit cards.
I have enough for a down payment 10%.
The morgate will only be 15%-20% of my take home income.
Do you reflect I will be able to get a loan?
I do not have fantastic credit history and want to apply for a home loan to see if I qualify, but I want to know who is best to go threw for a excellent shot if my history is poor?
Here is my situation:
I have 6 months of excellent credit card history, but nothing else
I own 2 acres of completely paid off land
I am 20 years ancient
Someone told me that i need 3 years of credit history to get a home loan. Is this right?
I am expecting to pay about 25% down payment, but I just want to make sure that i can get a loan without a co-signer.
I know there are a lot for new programs for first time buyers,How can I find out all the loans or regime programs that I qualify for when it comes to buying a home in california… I have a lot of qualifying factors, I am a first time buyer, I am a regestered member of a native american tribe, and I am low income. I dont have the BEST credit history… Can anyone help me determine my options.
My credit scores are between 570-590 from past late payments on student loans. I since have a excellent credit history and income but I can not find a lender. I have read that FHA loans only require 580 scores but I can’t find any way to get a loan. Any suggestions will help. I need a mortgage now- I am under contract to buy a house on 2/26.