What site do i go to to apply for a house loan?

Question

I'm  a first time buyer and i need a loan of 30,000 dollars
for me and my baby to live in and start a new life so please help and please no nasty comments.
I just need the sites to apply for legit loans

Anonymous · Accepted Answer

NONE.

Do not apply online.

Apply in person at your local bank.

Anonymous · Answer

First - have you checked your credit reports?
Go to    annualcreditreport.com
Make sure there are no errors or defaults of payment.
Print them out and dispute any items that are incorrect.
If everything looks good, or after 30 days of fixing your errors, get your credit score at Equifax.com for about 8 bucks.
A score of 760 or above will get you a loan with only 10% down.

First try applying in person to a local credit union or a bank.
Some online lending sites are "scammy" and will try to trick you into fancy loans like ARMS, options, balloons, and such.
Ask for fixed rate 30 year only.
Apply for all your rates in a 5 week window so it does not ding your credit score.
They will be grouped as one if you do this.
Online, I would go to BANKRATE.COM and see which banks have the best rates for 30 year fixed mortgages.
Remember: no fancy stuff - banks are still making a fortune scamming people.
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downlinerecords · Answer

At least in IL it is difficult to get a loan for $30,000 for a house, it may be that way in other states too.  This is because sometimes there are limits on the percentage of fees that can be charged on a loan.  And this since fee is limited then there is not enough profit in the loan for the bank to be able to sell the loan, which is what happens to the majority of big bank loans. 

Therefore, what you would need to do is go to a community bank, or a credit union.  A bank that will keep the loan on their books, because they don't need to resell the loan, they are able to do smaller loans. 

To get a normal mortgage you will need to have 2 years of employment history in the same industry and good credit history.  

You also might want to go for seller financing, but don't get ripped off.  There are private investors who may buy a property cash and then sell it to you with seller financing, while taking a profit of course, but it can be win / win for both parties, since it is difficult to get a mortgage on a small amount, and your payments can still be low....just make sure you do your math so you don't get ripped off.  I know an awesome seller financed deal near me for example that is 5 Acres, a 3 Bedroom house,   And a 2 Bedroom trailer on the property.  $40,000 with seller financing, they want $6000 down, but then the payments are only $200 / Month...that is a sweet deal, and I might do that myself.

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What site do i go to to apply for a house loan?