can u fiaance bad credit?

Guest 0.10 Dollars($)

need a home quick in good area for kids and pets

evolovik26 · Posted: Fri Aug 17, 2007 10:25 am Post subject:

depends on how bad the credit is and how strong are other factors such as your time on the job, rental history, salary, ammount of the mortgage, size of downpayment and the mortgage payment you can afford

Niicss · Joined: 03 Oct 2005 Posts: 1047 156.15 Dollars($)

Yes, you haven't given much information with which one can give you an estimate on whether it will be possible to qualify for a mortgage or not. You have bad credit, is it because of late payments, charge offs, bankruptcy, previous foreclosure...?

Bad credit loans have higher interest rates than normal, so you need to calculate if higher payments would be affordable for you or not. If your dti ratio and income are good then you may be able to afford higher monthly payments.

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi Jennifer,

It is true that there are many factors influencing behind bad credit. Financing for bad credit primarily depends on the overall credit history of the borrower. Many lenders generally disregard a borrower for his bad credit score. But nowadays, there are many banks and financial institutions who offers bad credit loan. You can contact any of such banks.

Caron · Posted: Sat Aug 18, 2007 5:05 am Post subject: RE: financing for bad credit

Hi Jennifer,

Welcome to our forums.

There are lenders in our community who offer loans to people having good as well as bad credit. So, if you are interested, send us your minimum details and your request for mortgage quotes. As soon as we receive your quote request, we shall pass it on to the community lenders and they'll try to match their profiles with your loan requirements. And, if the lenders are interested to finance you, they shall contact you asap.

Good luck

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