No Doc, Bad Credit, first time homebuyer mortgage purchase?
I want to buy a single family home in Louisiana to 165,000. I have never filed for bankruptcy. But I have a bad credit score, student loans and I am self-employed. That's the trouble. The good thing is that I have money in the bank for payment. I could do 20% but rather 10%. You could also get my parents to co-sign, but prefer not to. Is there any way for me to get a mortgage? My plan is to fix the place and try to sell it. And if does not sell I was going to move in. But it's in an area of high demand for what I believe that will sell. So I'm looking for a mortgage that has no penalties for early payment. Any ideas?
Do not lose hope if you are looking to buy a home. There are many different ways to finance a home now, almost anyone with any type of credit can go into a home, regardless of the situation credit. Of course, some will cost more money in the long term, but a home is still one of the best investments you can make, so that in many cases, worthwhile, especially for the first year of ownership. You must shop around and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. You can find some bad mortgage lenders that appear on this page were: http://www.axalda.info/bad-credit-mortgage.html