Posted on: 21st Jan, 2009 05:40 pm
i am trying to get a home loan (first time homebuyer) i have around 700 creidt score, home loan needed is about $80,000 gross income about 45,000 and $1000 in monthly bills including utilities. i opened a business in 2007 which is bring down my 2 year income because of all my expenses. bank told me today i might find a realtor who deals with private lenders and could maybe get approved that way and refinance in a year or two..as my income this yr was great, (just when averaging it down with the 2007 puts me below) where can i find a private lender, is this common?
Hi Dch,
You can look out for private lenders in your area. However, in my opinion, you should check out the rates and terms they are offering you. It will be better if you can consult with few of the private lenders of your area and then go for the one which you can afford.
Thanks
You can look out for private lenders in your area. However, in my opinion, you should check out the rates and terms they are offering you. It will be better if you can consult with few of the private lenders of your area and then go for the one which you can afford.
Thanks