Anyone know of anyplace to get a 100% finance home loan, with no so good credit rating?

Have some things on credit report, from divorce, but would like to find finacancing for a home

Anyone know of anyplace to get a 100% finance home loan, with no so good credit rating?
Not a good idea to do this until you establish a better situation for yourself for these reasons:


1. A lot of unscrupulous brokers who will rob you blind on rate, fees, points, miss-disclosing, to name a few things. The rate will be at least 9.5% and if they tell you it's less, then they are talking trash and setting you up on a very short term adjustable and only disclosing the fixed term.


2. You have no equity from the start and your credit is already stretched. Build your credit back up by making 12 months of on-time rental payments and don't listen to brokers that tell you about credit bureau crap. Make your credit card payments and especially your auto payment on time. Many programs allow poor credit if you can prove you have made 12 on-time rental payments in a row. Rent from a property management company and not from an individual to make it easier for you to obtain a good deal in about a year.


3. Broker's who tell you rates are going "sky high" should all be put in jail because they don't have the first clue as to what rates will do. They just want to make a quick buck and leave you holding the bag of pain.


4. If you do go with a broker, make sure they are licensed within your state so that if they screw you over you can screw with their licensing by filing a complaint. You can verify their license status on any State's web site so don't let them send it to you or just tell you they are licensed. Find out yourself by looking it up online.


5. If what you are being told sounds fishy, it probably is so don't think twice about saying no. There is no free money or cheap money for those with credit scores under 680 on 100% financing, no matter what anyone tells you.


Good Luck.
Reply:It truly depends on what exactly is on your credit. Just because someone has some marks on their credit, doesn't automatically kick them out of the system.





Currently, FHA has some great financing options. More times than none, you are able to keep $3,000.00 or under, of open collections and still get a great rate along with 100% financing. Add in the sellers taking care of your closing costs and a down payment assistance program and you are in a home in no time.





If you would like to ask some more personal questions or you would like a one-on-one consultation with me, I would be more than happy to help you out. You can contact me at timothy.kazee@americanhm .com and we can talk some more. Good luck!
Reply:CALL 1-866-865-4025


SIMPLEX MORTGAGE SOLUTIONS


THEY HELPED ME OUT ALOT


GOOD LUCK
Reply:what is not so good?


what is the amount of the loan?


talk to me.....
Reply:Depends on how much bad stuff is on there, judgements? Bankruptcies? Foreclosures? and also down payment, talk to a mortgage lender! Email me and i can hook you up with someone who will help you! Or if you wanna chat and ask more questions! dmckinner@yahoo.com
Reply:I know quite a few places because it's what I do for a living. You definitely need to utilize the services of a mortgage broker rather than trying to source out a specific lender yourself.





The 100% "sub prime" mortgage world is more score driven than anything else. You have 3 different credit scores. If your middle score is 580 or higher, yes you CAN get 100% financing. If your middle score is 525 to 579, it's POSSIBLE to get 100% financing, but much harder. Anything lower than a 525 middle score, and you're going to have to improve your scores first, then get your 100% financing.





Feel free to email me at rames498@aol.com if I can be of further assistance.
Reply:Depends upon how not so good the credit score is, whether you've been late on rent in the last two years, and whether you can prove you make enough money to justify the loan.





Full documentation (proving you make enough money) goes down to 580 for 100 percent financing. Maybe 560 in some cases. About the best that can be said of a 580 score is that it's not putrid. It's 140 points below national average. And if you don't have a 580, it's pretty easy to get if you try.

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