Looking for a mortgage with a 100% financing, 0 to ……..?

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Does anyone know of any mortgage company to loan 100% financing, 0 to persons with a credit score of 600 to 605?

5 Comments
  1. Reply
    spifiman1
    February 1, 2011 at 10:15 am

    You might try lendingtree.com. If you are approved, you can expect a higher rate due to your low score.

  2. Reply
    epelham54
    February 1, 2011 at 11:14 am

    No not any mortgage companies, but if you go to this website they have a lot of links to different places you might check into. You might want the programs they offer they have helped me and they tell you have to buy a house with no money down too. The address is below. The Coming Back Strong programs

  3. Reply
    cardinalboy97
    February 1, 2011 at 11:21 am

    Honestly, with that score, you won’t get a mortgage through a bank at a decent rate. I just bought my house with 0 down though my local bank, so I know what the minimum credit score generally is (at least 650, but my banks said even that’s pushing it).

    You may try lending tree or eloan, or you can try FHA — that type of mortgage only requires 3% down.

  4. Reply
    biju5555
    February 1, 2011 at 12:19 pm

    Never do that even if some Mortgage company gives you 100% financing……..there are some promotions that some builders have with mortgage companies when they have a lot of unsold inventory……they usually advertise too. But its better to rent than buy some thing this way you invest no money and you build no equity too….hope you get my point.

    The best thing is if you need a loan of $ 100,000.00 come up with $ 10,000.00 and use your local bank to finance another $ 10,000.00 as a second mortgage and a first mortgage from a second financial institution.ie $ 80,000.00 . That is you come up with 10% the bank with 10% and the mortgage company with 80% that is a good way to do it . If you go in for more than 80% financing from a single company you will have to buy mortgage insurance and you will have pay for it with your mortgage and that is a bomb.

    Honestly you will be better off in a rented house rather than buying a house with 0% down. This is obviously a great decision and you have to understand that owning a house is every ones dream and you have to work on your credit score too…..600- 605

    Lenders specializing in poor credit and even post bankruptcy home loans want to compete for your business, they are making very high profits and you are the looser.

  5. Reply
    Reenie
    February 1, 2011 at 12:47 pm

    This site has some helpful loan information and you could find out if you would qualify. You’ll most likely be approved somewhere with that credit score, but will pay a higher interest rate. Oh, you’ll need proof of income as well. Good luck! http://loan.divinfo.com/

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