I can actually afford to pay it back!
There really are MUCH fewer subprime mortgage loans available than previously. However, a few companies that are known for doing subprime loans are: Wells Fargo Financial, Citi Financial, Beneficial/HFC, and a few others. Best bet is to repair the credit first, then get your loan later.
September 2nd, 2010 at 9:09 pm
Subprime mortgages are pretty much dead for purchase money loans, because wall st (the one who was buying the mortgages) is bankrupt. Now it’s all about either showing income (full doc), or putting a large down-payment up. Either one needs good credit.
The only other option is hard money, which means big down payment, but they’ll finance ANYBODY, no matter the credit…
Get your scores to the 700 fico range and you may get some Stated income programs out there, but it;s slim.
Sorry dude, in ‘05 or ‘06 all you needed was a 620 fico and a pulse and you could buy a house with no money down. That’s gone away….
References :
September 2nd, 2010 at 9:34 pm
if you can afford sub prime – you should be able to afford conventional – you will still need down payment and closing cost cash
References :
September 2nd, 2010 at 10:15 pm
There really are MUCH fewer subprime mortgage loans available than previously. However, a few companies that are known for doing subprime loans are: Wells Fargo Financial, Citi Financial, Beneficial/HFC, and a few others. Best bet is to repair the credit first, then get your loan later.
References :
http://www.redfoxcredit.com/repair.php