Re: Desperately trying to find a mortgage loan!!!!

Posted by Andrea (207.7.7.214) on April 16, 2003 at 08:57:10:

In Reply to: Desperately trying to find a mortgage loan!!!! posted by A.T.L on April 15, 2003 at 13:32:34:

I have a freind in mortgages and i have 1 judgement (Paid) and I have positive credit but 2 chargeoffs and a judgement..all paid. I was told FHA will "look the other way" if you have negative credit PAID OFF, otherwise you are out of luck there and they don't loan as much as a conventional loan. With a conventional loan you need 10-20% down and they don't really look at your credit but you do need a decent score in order not to pay interest through the nose. They like it in the 650 plus range. If you have 6 judgements that are not paid there is no way you could go FHA which is usually 3% down. They are there for people who have had past credit problems but have resolved them. Good luck!

Follow Ups:

Post a Followup