Anyone that may know or may be a Owner/ Loan Dept., to give someone an opportunity to purchase a home , first time home buyer…with not so good credit, stable in job, stable/good in paying rent for (9) yrs. references. Thank you.
Is there a owner / loan place that may give one opportunity apply for first time home w/ not so good credit?
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Jun
dutchlady
June 30, 2010 at 6:01 pm
You might try an owner-financed home purchase. The owner finances the loan, and so no bank is involved. You would have to have a lawyer set it up for you.
You could also look into foreclosures, or auctions and see what you could afford. Also look into first-time home owner through a Realtors office or on the web.
There used to be several ways, as stated above, to buy a home other than through a bank. Check it out. With today’s market, you surely can find something. But look for the unusual, not the normal ways, because mortgage companies are scared now, with all of the mess they made in lending to just anyone.
Best bet, though, is self-financed. A lot of people want out of their home, especially older people, and they have money enough that they can be their own bank. Good luck.
KinWin
June 30, 2010 at 6:38 pm
I am good friends with the vice president of a mortgage company what state do you live in? if you live in Illinois or Indiana I can put you in contact with him.
Brian G
June 30, 2010 at 6:46 pm
It isn’t going to be who you know. There are many factors…debt to income, credit score (tri-merge), LTV, money down…etc. it really depends on your situation. If you don’t have any luck the conventional way…You may search out someone that does owner financing (or subject too lending). It can be one way you can get financed.
Good luck.