Buying or renting?

[Koontzy]

what do ya'all do...I really want ot buy a house when I get back home, but dont really know much about it..... I want to be able to have a kennel and I know that if I live at an apartment I wont have any room to have 6-7 beagles running around.... bad side is my credit isnt that great... I have a score of like 450... How hard is it to get a house with pretty bad credit? anyone know???? anyone here did it? whats the best thing I can do to get my credit up... I have a reposession on it and a couple of small things...will I still be able to buy a house?

[yellowdog]

koontzy,
i am a finance manager and deal with credit everyday..if ya want to pm me on here i can give you a run down on things to do ...if you want me to post on here fine..but if you would rather keep it confidential pm me...thanks...

[Koontzy]

yellowdog I sent you a pm..

thanks

[MIKE]

YOU COULD GO WITH A LAND CONTRACT.
RENT MONEY IS SPENT MONEY
MIKE

[pwill]

I sell real estate, pm me and I will try and help you...Thanks Paul


Did you get all the info on Boldstrokes you wanted?

[DOGRUNNER]

It can be done a friend finianced a house with no job and all right credit just a little higher % rate is all.

[bowhunter59]

if u can find someone that will owner finance for u that will help.probably need a descent down payment.but there r ways tio get ur score up ..#1 tho make all ur payments on time for 6 months that always helps but that repo is gonna hurt for a whileon big itiems.

[WrongsideRandy]

Koontzy......Arent ya in the military? Cant military people get VA loan to buy a home.....

Good luck,
Randy

[bluegrass]

Randy, yes he can get a VA loan, but credit issues still apply even to a government backed loan...Tony

[blitzen]

you will need at least a 500 score and usually no more than a 1x60 on your mtg or renal history in the past 12 mos. this will get you 80% loan to value don't let your credit cards get above 75% of their limit ( example 1000.00 limit don't let your balance go above 750.00 dollars ) by doing this it will keep you from getting your credit dinged and your scores will come up. if you don't have credit, get a card and buy your groceries with it and pay card off with your grocery money and this will help to build your credit. the above scenario will get you 80% loan to value the higher your score and better your rent or mtg history the more loan to value and better interest rate you will get, and of course pay you bills on time. Also pay your rent with a check or to a complex or some third party so that there is some 3rd party verification don't pay in cash. Dave

[kjohns]

Pwill, I sell Real Estate too. What area do you work in?

[pwill]

North central NC, mostly new home development and land sales,which area do you work? Paul

[kjohns]

I'm in Northeast Ohio. Suburbs to distant suburbs of Cleveland. We have a few builders and developers we work with, but mostly just residential resales. Do you ever go to the nar conventions?

[jason_beagles]

I do real estate investing in Maryland. I buy homes and finance them to people with bad credit. You will need around a 550 credit score to get 100% financing. That will be a 80% first mortgage and 20% second mortgage. If you need some help finding a sub prime (bad credit) lender let me know. Here is my website for my business. http://www.jwsinvestments.com I am selling a house right now for $130,000 and the buyer has a 589 score and they have 100% finance. First mortgage is 7.6% interest and the second is 11% interest.