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 bflow30
Joined: 26 Aug 2007
Posts: 2
1.59 Dollars($)
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 Posted: Sun Aug 26, 2007 3:14 pm Post subject: Looking for a mortgage loan for bad credit in Tennessee |
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Score of 520
Income of 2960
bills of 598 |
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bflow30
Joined: 26 Aug 2007
Posts: 2
1.59 Dollars($)
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| Posted: Sun Aug 26, 2007 3:16 pm Post subject: |
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| Also, I am aware of the fact that it will be higher interest, however, I am looking to pay 1-2 years and refi. for a lower rate. Any help is appreciated. It will be solely in my husbands name and income. |
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ezmortgageloanz
Moderator
Joined: 06 Apr 2007
Posts: 124
Location: National
37.57 Dollars($)
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| Posted: Sun Aug 26, 2007 4:39 pm Post subject: |
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I suggest you investigate FHA lenders/loan programs available in TN---FHA loans allow for high LTV (up to 97.75%) borrowing scenarios at near conventional pricing regardless of credit score.
Regards,
Scott Miller
_________________
National FHA Mortgage Broker
www.BadCreditMortgageMakeover.com
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Caron
Moderator
Joined: 19 Jul 2005
Posts: 1562
Location: florida
266.56 Dollars($)
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| Posted: Mon Aug 27, 2007 5:12 am Post subject: RE: bad credit mortgage |
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Hi Bflow,
Welcome to our forums.
I will agree with Scott here. An FHA loan can be an option for you. However, there can be other choices as well. You can find them out by sending us your request for mortgage quotes. As soon as we receive your request with the minimum details, we shall pass it on to our community lenders and they shall try to match their profiles with your loan requirements. And, if they are ready to offer you the loan depending upon the details that you've sent, they shall contact you asap.
Good luck 
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Mortgage Shopping made easy with booklet |
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miller_st
Joined: 17 Jan 2007
Posts: 917
168.92 Dollars($)
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| Posted: Mon Aug 27, 2007 1:06 pm Post subject: |
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| Quote: | | Looking for a mortgage loan for bad credit in Tennessee |
Yes FHA loans are a good option in case your credit score is not good. But for fha loans you should have a satisfactory credit history. Other thing is that your debt to income ratio should be within the specified limit to qualify for an fha loan. |
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bthahir
Joined: 05 Sep 2007
Posts: 36
13.30 Dollars($)
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| Posted: Thu Feb 21, 2008 2:19 pm Post subject: HI |
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You can apply with FHA loans but you need to have good credit history. I mean they are more concered about timely payments but not about how much you use you your revolving account. I would suggest you to contact Trinity Mortgage, they are doing lot of FHA loans. just shop around for some time you will get a better option
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charlesarmbruster
Community Experts
Joined: 12 Oct 2006
Posts: 169
Location: Mesa, AZ
43.75 Dollars($)
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| Posted: Fri Feb 22, 2008 3:50 pm Post subject: |
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Good Luck! Most FHA lenders are beginning to set their own FICO restrictions -- however, you should simply make application and find out. Get the ball rolling!
Why in the world is the credit score so low? Let's get some good advice from your loan officer -- you may not buy the home for another 6-months if you need to raise your credit stance. Go make application, now!
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Chuck Armbruster
Phoenix, AZ |
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