No Doc, Bad Credit, First time Home Buyer Purchase Mortgage?
I want to buy a single family home in Louisiana for 165,000. I have never filed bankruptcy. But I have a poor credit score, student loans and am self-employed. That’s the bad stuff. The good stuff is that I have cash in the bank for a down payment. I could do 20% down but would prefer 10%. I also could get my parents to co-sign but would prefer not to.
Is there a way for me to get a mortgage? My plan is to fix the place up and try to sell it. And if it doesn’t sell I was going to move in. But it’s in a high demand area so I think it will sell. So I’m looking for a mortgage that has no early payment penalties.
Any ideas?
Tagged with: bad stuff • bankruptcy • good stuff • home in louisiana • mortgage • parents • poor credit score • single family • student loans
Filed under: First Time Home Mortgage
Don’t lose hope if you’re looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.
Of course, some will cost you more money in the long run, but a home it’s still one of the best investments that you can make, so, in many cases, it’s worth it, especially for the first year of ownership.
You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. You can find some bad credit mortgage lenders listed on this page on and off:
http://www.axalda.info/bad-credit-mortgage.html