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$30000 Home loan

Posted on: 08th Jul, 2010 08:45 am
I own two acres of land worth around 15,000, I have $3000 dollars to use as a down payment. I am going to need a conventional loan. I am building a pole barn style building with an office and garage for my business and a living area. I was told I could use my land which I owe nothing on and have the deed in hand as my down payment. The probelm I am worried about is I have a 643 Transunion credit score. The bank I plan to go through I have done business with quite a few times on auto loans and have never missed a payment with them. Some misunderstandings with medical bills dropped my credit score. I just want to know if I can possibly get my conventional loan for around 30000-35000 using the land as collateral plus $3000 dollars with my 643 transunion credit score.
Hi BenDeweese!

Welcome to forums!

Your query has been replied to in the given pages:
http://www.mortgagefit.com/homeloan/lowscore-fha.html and http://www.mortgagefit.com/credit/577score-homeloan.html

Take a look at it. Hope it helps you.

Sussane
Posted on: 08th Jul, 2010 11:59 pm
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