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What can I do to get more (or better) quotes for my loan request

Hi,

My fiance and I are trying to purchase a home.We have $20,000 right now to put down but our credit is not in the best of shape... What can/should we do? We want a loan but have had the hardest time finding a lender that will approve for another $20,000-$30,000. ( Our price range for a home is $50,000- atleats that's what we've been looking at) We don't want to get something more than the $50,000 because we want to be sure we pay it off asap.....

Thank you for your time.
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September 07 2012 - Hereford
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Answers (4)

You may want to consider a home that is being offered as seller carryback terms if you aren't able to find a lender that will loan on that amount. 
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October 17 2012
The best thing you could do is talk to a lender, let them run your credit report and let them tell you what you need to do to get your score higher. You could be close to getting the score you need, within a few months or as far as a year, so talk to the expert in this field. Be sure though that you make all your payments on time and that if you have credit cards you keep the amount less than 25% that you have charged on them.
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October 10 2012
Get your application in with a lender.   Depending on your overall income and debts will determine your total buyer power.   Pick a lender and fill out an application.   Then you can ask the lender what you can do to qualify for more. 

Good Luck!  Erin.
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October 09 2012
Difficult to answer without specifics on the credit (please do not reveal details here).  But unless there are specific errors in the report, it takes time to improve your scores.  So time may be the only cure, I'm afraid.  Make sure you keep your revolving accounts as low as possible and, of course, be sure you pay everything on time.  Best of Luck
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September 07 2012
 
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What can I do to get more (or better) quotes for my loan request
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