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pissy_grl_22 · Joined: 29 Apr 2009 Posts: 1 1.00 Dollars($)

i need a fixed loan but i have bad credit and no bank account what can i do???

jameshogg · Posted: Wed Apr 29, 2009 9:06 pm Post subject:

Hi pissy_grl,

You haven't mentioned what your credit score is like. If order to get a FHA loan, you will require a credit score of 620 but in order to get a conventional loan, you'll need a score of 700-720. If you have a score lower than that, lenders won't give you a loan. I would suggest you to improve your credit first and then look out for a loan. You can also open a new bank account. This will help you in building your credit report. Check out the following link to know about improving your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html

Thanks

JKennedySLG · Posted: Mon May 04, 2009 10:25 pm Post subject:

There are still local portfolio lenders which will lend to homeowners with credit down to a 560. This typically requires compensating factors like equity and assets which it seems you do not have the asset. I would suggest contacting a lender and see what your credit really is and what you may qualify for. I hope this helps...

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how can i get a fixed loan