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How do I find a mortgage? I know they are out there.

MY wife and I recently moved into a house with our 3 year old son. we were working with a big bank that said we could get financed then came back and said  they couldnt help up because the finance amount was too low. we are now struggling to find a mortgage because MY credit score is too low and no matter what I do i cannot bring it up. we will lose the house and the money we have in escrow if we do not get financed soon. is there anyone out there willing to help ?
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February 24 - Hahira
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Answers (4)

When you say finance amount, do you mean loan amount? If so, there are lenders that can have a minimum loan amount. For example, most mortgage companies will only go as low as $50k for a loan amount. When it comes to your credit, how low is it? There are lenders like myself that can do loans with scores as low as 580. The best thing for you to do is to speak with a knowledgeable lender to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!
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February 25
William, I am a little confused here. Are you saying you already moved into this home before escrow closed? The purchase contract spells out contingency dates for getting the loan approved and when you will be able to move in, usually the earliest would be the date the transaction closed. Michael's response is a good idea to a small bank, but you might also try and get someone to co-sign, usually as a non-occupant
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February 24
It depends on how low your credit score is. The lowest I can go is 580 on FHA, VA or USDA loans.
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February 24
Your best option may be to contact a small local bank.  They do not fall under Fannie/Freddie or HUD guidelines and usually are more flexible with credit.
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February 24
 
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