I have bad credit. My score is 545. How can I secure a 0 down home loan?
Answer:
Try searching on "100 % mortgage poor credit" at
http://www.online-mortgage-shoppers.com/.
Spending a few minutes browsing here could help you find just what you are looking for. Don't be misled by this sites name you can find all kinds of financial services here.
You will have to clean up your record and bring that score up. Or you may opt for a hugh interest rate.
There are certain morgage companies that give out "High risk " loans. The intrest rates are always higher than people with good credit. Call any mortgage broker and ask for a referral for high risk loans.
stop having people run your credit. Give it time and pay on time.
By getting your credit score to over 800.
Marry someone with good credit!
You can't
Frankly you can't . No sugar coating it - that score is terrible and unless you have 30% down no one is gonna talk to you .
If you have any leverage,use it to your advantage.Try to debt consolidate first,then go forth with the hisk risk loan from the bank.tom science
It's pretty much not going to happen. All that aside, a zero down home loan is not a good choice for your average home buyer. The amounts of interest you pay will be obscene, and your home value is likely not to keep pace with the levels of interest you are paying. You should take time trying to raise your credit score, and during this time, learn about mortgage options which best suit the type of investment you are making with your house. Who knows, you might not even need a zero down loan by the time you accomplish these goals.
You're trying to buy a home, is that correct? Not get a loan on your home. My son just bought a first home through HUD, the government program that aids low-income home buyers. He worked through a real estate agent after finding a HUD-eligible house he and his girlfriend both liked. I know that neither have great credit, but they were able to buy this house. You might look into it with a real estate agent to guide you through. There is also another program similar to HUD. Go to http/www.firstgov.com/ the information site for the Federal government, and check out HUD (Housing and Urban Development program I believed its called). Good luck.
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