Posted on: 07th May, 2009 01:46 pm
I do not have great credit, and I was wondering what type on interest rate or loan for that matter that I could get, if at all. I have looked at this one place and they want 13,500. I was laid off and it took me a year to find a job and I tried very hard to keep up with my bills and then finally I landed a job and have been with them almost 9 mths and I just landed a part-time job in the evenings. So I was just wondering what my options where and if I would even be accepted for a loan.
Thank you
Thank you
Hi hopefull_heart!
Welcome to forums!
You haven't mentioned what your credit score is like. But in the present market situation, the lenders will not agree to give loan to a person who does not have a good credit. In order to qualify for a FHA loan, you would require a credit score of 620 whereas to get a conventional loan, you would need a credit score of 700-720. If your credit score is less than this, then you will not be able to qualify for any kind of mortgage.
However, you can follow some simple steps and improve your credit score. Then you can apply for loans. Check out the following page to know about the simple steps to improve credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
You haven't mentioned what your credit score is like. But in the present market situation, the lenders will not agree to give loan to a person who does not have a good credit. In order to qualify for a FHA loan, you would require a credit score of 620 whereas to get a conventional loan, you would need a credit score of 700-720. If your credit score is less than this, then you will not be able to qualify for any kind of mortgage.
However, you can follow some simple steps and improve your credit score. Then you can apply for loans. Check out the following page to know about the simple steps to improve credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Feel free to ask if you have further queries.
Sussane
FHA loans look at two years of job history.
Yes having 2 jobs and good income is one thing but they do look at how long you have held jobs and how long you have been at your current job. Along with debt and others things.
Gary is correct. Current job needs to be atleast 6 months and that will show some stability for them.
i need to borrow 15000 to pay off bills i have land but no credit
Hi billy!
Welcome to forums!
If you do not have a good credit score, lenders won't give you a loan. You need to take steps to improve your credit score first and then look out for loans. Check out the given page to know about the steps you can take to improve your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
If you do not have a good credit score, lenders won't give you a loan. You need to take steps to improve your credit score first and then look out for loans. Check out the given page to know about the steps you can take to improve your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Feel free to ask if you have further queries.
Sussane