Quote:
Originally posted by devoid_of_reason
As a side note...you don't need good credit to buy a house.
You will just pay a higher interest rate than a better qualified buyer.
A good mortgage broker can get anyone financed if the
numbers are right. With rough credit, you can still probably get
a 75% loan. So you need to find a house that appraises for
$100,000, and can be acquired for around $75,000.
I know this may sound silly to some people, but deals like this
are out there...you just have to look a little harder.
I have found many over the years.
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Yep. There's tons of ways to do it. You just have to work a little harder.
Find a mortgage broker who specializes in both government loans and high risk lender programs. That's where you will find the best deals.
Watch the fees though. Government loans tend to be better in that regard, but some lenders/brokers don't like them because they can't pile on the fees and there's more paperwork involved.
But an honest mortgage broker will give you all of the options and help you save some money.