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Answers (3)
- Andrew Adams, "203K Specialist"
- Contributions:9349
With a 559 FICO you need to focus on being able to get a loan. I know of no lenders offering financing on sub 580 FICO's.
- chrisosborn
- Contributions:2
we got our first mortgage when he had no credit at all, mine was fair and i was unemployed (homemaker) and he was the income, we got the loan with no down payment (land/home deal) but it was a ballon loan and we were very ignorant about the process, we are selling our home, will the payoff help his score? and his bad credit is due to hospital bills from sept of 2010 (heart-attack). i know we can get a loan, i am not worried about that, i am worried about the interest rate, would it be better to purchase loan points or go through a hard money dealer?
- wayne lancaster, "funds2"
- Contributions:1177
If you are employed it is likely your income would be sufficient to qualify for a $30,000. loan. If husband's income is not needed then his credit would not need to used as loan could be in your name. His score would make it very unlikely to be able get a loan but if you have no income Wells Fargo would be only possible option.
could a 50% down payment make the interest rate lower on a home loan?
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