Whats the best way to buy a home with no money down with bad credit immediately?
98978
No money down is not the problem. It is the bad credit. I have financed a lot of people with no money down. Seller credit buyer for re-occuring and non-reoccuring closing cost. Add that amount to your initial offer of the property. I am in the state of CA, therefore you need deposit when you make the offer, and money for inspections, unless you have the seller pay for all inspections. You need to fix the credit so that you can get a good interest rate.
678948
There are many subprime lenders that will provide 100% financing towards the purchase of a home for 1st time home buyers down to a 580 fico score.  Seek out the help from a mortgage broker, who will review your credit profile, income and job status and place you with a bank where you qualify.  There are a variety of loans to choose from and lenders that specialize in no money down purchases depending on your particular needs.  Remember, continue to make payments on time as this will help raise your fico score.  To get a copy of your credit reports, go to myfico.com- it is secure and provides you with the scores from all three credit bureaus.  There is even a fico score simulator that helps you make appropriate decisions regarding your credit.  Finally, when shopping for a loan keep in mind that the more your credit is pulled, the more it affects your score- so be wise about how many places run your credit.
358219
www.naca.com\n\nThey are a non-profit organization that helps people in your situation.  They will work with you to improve your credit and get financially stable (though your own hard work, mind you!).  They do their own lending.  So when you are ready to buy, you work with a NACA approved realtor and NACA funds the deal.  You don't need a big downpayment and their rates are usually a little less than a bank would charge you.  \n\nThey got their money through a settlement against Fleet Bank for predatory lending.  Their whole focus is on helping people get their foot in the door of owning their home because it's one of the biggest ways to stabilize yourself and get financially secure.  Good luck, hope the info helps!
396203
go here there are lots of loan programs that may help you http://www.allsolutionsnetwork.com/cgi-bin/d.cgi/CB9051/no_down_loans.htm
1058619
You first have to clear your bad credit. If you are low income, you don't live above your means. If you want a house, you must tighten your belt and save money, not spoil your credit. After your credit is fixed, call a broker...mortgage broker and they will give you more details after studying your situation. Also there are some grants to help in certain areas.But without a good credit, you won't be able to buy now. Call the credit burea and find out exactly what you problems are. Deal with them one at a time until you are finished. Good Luck. I know you can do it!
316870
There are loans that do not require any documentation, or only require verification of assets.  You will need good credit, and might need to put money toward a down payment to keep the interest rate at a decent level.  Call a mortgage company.
150905
My best advice would be to start by opening a new credit line.  Paying your bills on time and saving as much as you can.  Credit can be a bummer when it comes to buying a home.  Good luck!
353503
YOU CAN GO ON DUN AND BRADSTREET'S WEB SITE AND THEIR RATE ALL BUSINESSES.  BUT, BEFORE YOU BUY RIGHT OUT, IF YOU QUALIFY FOR A MORTAGE FROM THEM, THEN YOU CAN QUALIFY ANYWHERE.  CHECK WITH YOUR CITY OFFICE AND SEE IF THEY HAVE PROGRAMS.  IN COLUMBUS, OHIO THEY HAVE A PROGRAM WHERE THEY PAY THE DOWNPAYMENT AND ALREADY HAVE LENDERS THEY WORK WITH.  ALSO CHECK FOR FORECLOSURES, HUD, AND AUCTIONS.  YOU MAY GET A BETTER DEAL.  ALSO GO ONLINE AND SEE WHAT OFFERS YOU GET.  IF YOU FEEL WORRIED ENOUGH TO ASK ABOUT THEM, MAYBE YOU SHOULD LOOK FOR ANOTHER LENDER.\n\nJJ
583352
If you have less than a certain amount to put forth as a downpayment, you can get a reduced rate loan from the feds for your downpayment as a first time home buyer.  That won't help you in SF or NYC, where the downpayments are so enormous that the loan won't cover it, but is really helpful in lower priced real estate areas.  Your loan officer should be able to point you in the right direction.\n\nYou asked this question in the Internet section of Yahoo! Answers.  I would try posting this in the Real Estate section.  You've got computer geeks (such as myself) seeing your question here.  Over there you'll have Real Estate, HUD and Loan Officer guru types noticing your question.\n\nGood luck!
970486
been there done that. I don't know how legal this is but what the hay.   Anyway, get a credit card from anywhere. Then get another one from anywhere. then get another one from anywhere. The ones advertised in magazines are the easiest. When you have these credit cards, you run them up to a $100 each and make the payments. You do this for three months. Then you look for one of these consolidation offers [usually in your junk mail from any bank] then you consolidate your three cards into one and that will bring down interest dramatically. One word of advice. If you are climbing out of a bad credit situation you have to make the low interest card payments on time and at least two times the minimum payment. You have to do this for one year. been there done that  I now have a 10,000 dollar credit limit. go slow.
8931
First off if you filed Bankruptcy and left out some creditors you must pay them back.  So you need to call them and set up a payment plan.  you need to get your credit score over 600 before anyone will talk to you about home ownership and to buy an $80,000 home you should try to have $15,000 in savings.  If you are a vet or can apply for a down payment grant you can get by with less, but even a zero down loan needs 3-5k for closing costs.
343388
Try here there are lots of loan programs. http://www.allsolutionsnetwork.com/cgi-bin/d.cgi/CB9051/no_down_loans.htm
1070480
That isn't going to be easy.  Most places do a credit check.  There are ways with good credit to buy with no money down.  An individual might sell you real estate that way, but it isn't a wise way to do business.
256111
1) Loan to Value (LTV) - If you have excellent credit, you m,ay qualify for 100% financing if the property is to be your primary residence (not rental property). However, this also means that you are borrowing all you need and your payment will be higher. I recommend at least 5-8% down if you have some savings set aside.\n\n2) Value - try and get something in your price range. This sounds like common sense but you would be surprised. Price out your monthly loan payment options (but don't get an interest only loan just to afford it..that is never a good idea). Get you mortgage broker/lender to help you with this so that you can know in what price range to shop for....\n\n3) Expenses - Utilities are dependent on the condition of the property and your usage. But you do need to remember that you will have to pay annual real estate taxes and annual home-owner's insurance. These are conditions to your loan and you cannot get around it.
145885
Start by getting a credit card-a gas card will even work. Just charge a tank of gas or so every month on it and pay it off as soon as you get the bill. This will start helping you to better establish credit. You may want to go ahead and talk to a real estate agent. You don't pay them. All of their fees are paid by the sellers of the house. They can go ahead and tell you what to do to build up your credit and get you pre-approved. Sellers deal more readily with pre-approved people because they don't have to wait as long to finalize the deal. My realtor helped me find a state program that gave me a $2500 down payment assistance loan that had to be paid back at $36 a  month for 7 years. I ended up getting into my house with only $300 out of my pocket if you can believe it!
625098
What is your definition of terrible? There is always a loan out there but getting it can require out of pocket funds to qualify. If your credit is really bad most lenders will not finance a 100% purchase so you'll need to come into the deal with funds for the down-payment and closing costs.\n\nGive me a call or drop me an e-mail and we can go over your specific scenario.\n\nKruorock@firstratelending.com\n866-562-6838 x 106
1166575
Be very cautious when looking at any loan that has an initial, short term followed by a different, longer term--- for example, the "interest only" loans where you pay only the raw interest on the loan for the first five years, then switch to combined principle and compound interest for the remaining 25 years. Too many people get lured in by the easy terms in the first part of the loan and drown in debt when the second phase kicks in.\n\nYour credit does change every time a lender does a "hard hit" on your credit so ask the potential lenders if they'll be doing "hard hits" or "soft hits" for the preapproval. It's most common for a lender to do "soft hit" checks first, to see if you have any credit at all, before investing the time required to do the more thorough check that causes a "hard hit."  A mortgage broker can better explain the difference between the two but a "good" lender will do the soft search first, then tailor a loan to your needs and run the final hard search once you've picked out a loan.\n\nYou can withdraw up to $10,000 from your 401(k) or IRA for your first-time home purchase--- assuming of course you have that much in there to begin with. This is a really, really good place to get part of your down-payment with. Check with your accountant or with the broker holding the retirement account because you may still owe tax on the money but at least you don't pay penalties. Depends on how you put the money in.\n\nThe best advice--- do not spend all of your savings on your down-payment, and don't mortgage yourself so hard that you end up "house poor." Even a brand-new home is going to want a lot of your money when you buy it.   Just because you qualify on paper for a $200,000 mortgage does not mean you really can afford it!  Your lender is going to approve you for the highest possible loan so they make the most profit they can--- don't take it just because you have the opportunity, even if you really, really want the more expensive house. Taxes and homeowner's insurance are not factored into the original mortgage quote but have to get paid to the lender monthly, and could add up to a hundred dollars a month or more. That comes out of your vacation fund, entertainment budget, etc... you will end up hating your house if you can't afford to furnish or fix it, or if you can't spend some money getting away from it every now and then!