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Help,trying to by house?
We are trying to by a house,it is a repo,so they only want 17,000 for it.We are first time home buyers.We were denied loans through 2 banks and other places we tried can't do loans that small.What I'm wanting to know is where we can get a loan for 17,000.We have been told to try online,we just don't know where to try.
Credit score is 608.There is some debt we didn't know about until we applied for loan and I beieve that is why the banks denied it.One of the debts is a truck that we are paying on,pay off is 1,900.If possible,we want to add that amount to the loan so we can have only one payment.That truck loan is our biggest debt,it is through a personal loa company that doesn't do home loans.I am afraid we may have to wait,it is just to good of a deal to pass up,but I guess if we can't get a loan anywhere,then we have no choice.
4 Answers
- Lauren FLv 71 decade ago
You can try some of the online banks like ING Direct, but really the problem is that the loan amount is so small. If you belong to a credit union, ask them about a home equity line of credit. Sometimes you can get a loan that small.
Or, see if you can refinance a car (if you own one outright) and use that cash to pay for the house in cash. Or, try to get a loan privately from a family member, and then when you own the house, refinance it to pay the loan back to the family member.
Just keep in mind that a repo house for that low an amount of money probably needs a TON of money to make it livable, so be educated about what you are buying and what kind of work you will need to do, and how you will pay for that work.
- ~*Mama-of-Two*~Lv 61 decade ago
If you have been denied then that probably means you have bad credit. Check your credit report to see what your score is. If it is under 620 then nobody will give you a home loan no matter how low it is.
- Anonymous1 decade ago
You can try Lending Tree, Prosper or lending club.
If you were denied loans due to bad credit, you won't fine a loan online.
Ignore any scammers who say to contact them at @gmail, @yahoo, @live, etc.
