I have bad credit and need a Home loan (first time home buyer) ASAP?
I have recently been dealing with a local mortgage company and working on my credit i have currently received a loan from my grandparents and paid off about $ 10,000 worth of bad credit promising them i would pay them back with my tax credit, but unfortunatly i still have 4 things on there about $ 4000 worth, i have no way of paying those off anytime soon. My score is below 580 and i need help, to receive the tax credit i must close on the house i am in by the 30th of this month is there a company that can help me. I am tired of uprooting my family i have a 2 year old and a wife and we have had to move due to houses being sold 4 times in the last year. I have no problem making payments the house we are wanting is only $ 62,000 and with property taxes and insurance it would be the same monthly as my rent is. I have a vehicle getting paid off in Dec. which will leave me even more room for a home payment.
ok first off my mentatlity is not towards the tax credit, that was just to help pay back the “people” (my grandparents) on the money they loaned me to clear UP my credit so please don’t come in judging my intentions, i don’t care about the money, and my debt vs income leaves me roughly $ 500 extra a month right now, and will be almost $ 900 extra a month after December when my vehicle gets paid off, so i would say i am in great position to buy a house, the reason i have these things on my credit are from mistakes i made 5-7 years ago not currently, now im trying to fix these issues, and one way was to borrow money pay off the debts that i owed on, and then get the tax credit and pay my grandparents back… good idea until i hit my current snag, i raised my credit score from a 483 to a 561 so i dont think im going in the wrong direction i just need help getting past this part, i would appreciate if you would find out the whole story before saying im not in a position to do something