I want a home. But my credit score is 520. PLEASE HELP!?
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it is a much more complicated anwer and difficult to truly answer not knowing your entire situation. first, the price of the houses that you are looking at is very important but guessing based on what you are paying in rent right now the houses in your market place are probably under 150,000 and if you are makling about 45,000 or so a year you should be able to afford a house and given the right set of circumstances you should buy one TODAY!
there is a grantprogram that will help you with a true FREE grant for the downpayment and closing costs. you should check out www.libertygrant.com.
you can call me at 1-877-543-3711 or email me at jstern@lendamerica.com. i am a nationwide lender that is the exclusive lender on this program. when we look at your credit we do not use the scores to qualify you. we look at it as an overall picture and make a common sense lending decision. very often, we can work through your challenges and if we can we tell you right away.
good luck
I want a home. But my credit score is 520. PLEASE HELP!?Why is your score a 520? If you THINK you can afford a home, why don't you take the money you would spend to get into a home and fix your credit, which would in turn get you a lower rate, cost, etc when you are ready to buy.
With a 520 score, most lenders can typically approve someone for 70-80% of the purchase price, therefore you would need to have 20-30% to put down on top of any costs.
What Amanda said it true, and it is NOT fraud. J O is actually the one at risk here for fines and jail time for publicly accusing another lender of fraud in itself. It is a violation of R.E.S.P.A. and can result in not only the revocation of his ability to originate loans but his entire company.
What Amanda was trying to get to is this, when you dispute a tradeline on your credit report to the bureaus, by law they have 30 days to respond to your dispute. If they do not, they MUST remove the disputed tradeline, no questions asked.
Don't believe everything you hear, there obviously is a lot of bad information out there, and good luck.
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