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brooklyn27713 · Joined: 10 May 2011 Posts: 1 1.28 Dollars($)

We are building a house and have put up 50% of the money. Will we be able to get financing for the rest with fair credit?

Posted: Tue May 10, 2011 5:23 pm Post subject:

Would need some more information from you, such as credit score, debt load, loan amount, state, property type, income, assets ect. If you have really bad credit, you can get financing with 30% down, using private money or "hard money" Contact me if you have more questions, or more info to provide.

jameshogg · Posted: Tue May 10, 2011 10:22 pm Post subject:

Hi brooklyn,

You can get a construction loan from your local lenders. However, in order to get a loan, you should have a good credit score, income as well as the required debt to income ratio.

Thanks

gmakerley · Posted: Wed May 11, 2011 1:11 pm Post subject:

Brooklyn, as you can tell from the above responses, it's nearly impossible to give you the information you requested without knowing some specifics from you, such as the actual score.

Construction loans are few and far between, I'd have to say. Don't be surprised if you find this out in your search.

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Fico Score needed for Approval with 50% down

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