can i ever get a mortgage if i only have 'FAIR' Credit...i have trouble getting a credit card...?
339137
Yes - look into FHA loans. For most loans you need a valid credit score which means at least 3 open credit accounts. If you can't get a credit card it is unlikely you have 3 credit accounts.\n\nFHA let's demonstrate credit by using utility bills, car insurance, rent, a monthly deposit to a savings account, etc. \n\nIf you use these forms of "alternative credit" you need to make sure you have a minimum of 12 months of paying on time.\n\nYour score could go as low as 550 for FHA
645965
Depending on how much your credit "sucks" and the state that you live in, would determine if you can purchase a home. However, I would start checking on FHA or state bond programs to get financing for your house. Research on your own, because most Realtors don't like them, because there is a lot of paperwork. Mortgage brokers don't like them because they can't make as much money on them. Go to your state website and look for the housing department. Most states have them, you just have to look. If you have any questions, feel free to contact me directly.
1084497
yeah, but it would be silly for small stuff like that. Try getting a "sears" or "lowe's" card first- you should be able to get a high enough credit line from them to buy those things, because refinancing your home, getting a second mortgage, is going to cost you MUCH MORE over the years when you are paying it back.
1165899
Don't know any lender that will not check credit when you are asking for financing. Most hard lenders will not require the typical credit score that a bank or a lender would require. For example, I was able to place a client with a 520 FICO with a hard money lender. The interest rate was not that bad, but it was higher than normal rates. You would have to talk to a mortgage person that has contact with people or groups that privide private financing. Hope this helps, contact me directly if you have any questions.
1002759
If you are talking about loan and mortgage credit, then the answer is "probably not."\n\nIf you are talking about credit cards, then it will improve some but it is impossible to tell whether it will go from "fair" to "good" because it depends on what you mean by "fair" and "good". If your credit score is very close to the "good" range, then it's possible.\n\nYour individual and total credit utilization is only about 35% of your credit score (depending on which system is used).
1004029
yes, you can get financing.  The costs involved, the interest rate, and the terms would need to be carefully investigated.  Be careful, there are lots of people out there who prey on the credit challenged.  You DO have choices.  Call me at 1-800 971-4638 extension 223, I'll try and steer you in the right direction.  I've been a mortgage lender for more than 20 years.  I just got a woman with a 577 credit score a FNMA loan.  So it is possible.
1010101
You can get it, just not a good rate with your current score. And there are ways to boost your FICO scores in a few months. I can help you with it. I work with a big direct lender/mortgage broker doing business in 48 states, and because the huge volumn of business we do, we get better rate than smaller brokers. We have over 200 loan programs to meet the needs of different situations, from good FICO score and good income and down payment, to poor FICO score and NO income (called "stated income") and NO down payment, so I will be able to find the program which best fits your needs. Contact me at xjuy@yahoo.com or 408-476-0455 and I can help you. Jessica
865541
Yes you can. You will have to go with a non-conforming lender. There are a lot of lenders that will give you a mortgage one day out of BK. Depending on the lender you can get 90% to 100% financing. Your best chance of getting 100% financing is if you no lates for the last 12 months on your current mortgage or lease and no new negative credit since your BK. \n\nYou won't be able to know what your rate will be until you speak with a mortgage broker and he reviews your credit report. I work for a large non-conforming lender. With your scores and no new negative credit, you should be able to get a 7% to 8% interest rate being a year out of BK, which isn't bad. If you are planning on moving soon, I would go ahead and call a mortgage broker in your area and get the ball rolling. You just need to find a broker that is licensed to do business in Texas, which shouldn't be a problem. Many brokers are licensed to do loans in many different states now. Look in your yellow pages for morgage brokers or mortgage loans. You will probably see many that work with people who have credit problems. Find one that you can work one on one with as opposed to trying to do your mortgage on line.You won't get the kind of service you need trying to do your mortgage on line.\n\nPlease don't believe it when people tell you that you can't get a mortgage because of your BK or that you will have to have a huge down payment, because that just isn't true. There are tons of programs for people with bad credit. If you can't get a clear 100% loan, there are 80/20 combo loans and all kinds of different programs. Just make sure to pay all of your payments on time and don't go out and make a big purchase, like a car, before you get your mortgage.\n\nIf the first broker you talk to doesn't sound like he can help you, don't be afraid to call several. Just remember you are looking for one that works with less then perfect credit. They are a dime a dozen now a days, so it shouldn't be a problem.\n\nYou can get a mortgage!!! Good luck!!!
464183
I do loans for people with bad credit all the time- and some are really bad.  Your best bet is to have a mortgage professional review your credit, income, and savings and they will be able to tell you what you qualify/ or not qualify for.
1164738
Some mortgage companies rely more on the items in your credit report than the score itself to make lending decisions.  If you haven't had and Bankruptcies, Foreclosures or mortgage lates, you should be able to get 100% financing.  \n\nThis most likely applies to those who have lower credit scores due to missed car payments, missed credit card payments, high utilization rates (the % of your total credit that is currently being used), etc.\n\nYou should contact a broker in the area and ask them to help you by identifying the different companies that might fund your loan for you.
67196
Prima facie I do not think there should be any difficulty in getting the loan .   Probably your bad credit is haunting you .   Assuming you have bad credit ---due to any reason whatsoever --- it should be possible to explain to the potential lender the reasons which led to the problems .  You may further convince the potential lender that the causes --which led to bad credit---no longer exist .   It is a question of putting up your story in a proper way .   Of course the problem can be solved quickly if the lender listens to your story with empathy .  If this does not work , --as a stratey ---you may try high cost loan where the credit rating may not be an issue .   After repaying some part , you can approach a new lender who offers you " take over loan facility " at a soft rate.    He will be guided by the latest record of repayment .   All in all , it should not be difficult matter.
135090
Call Countrywide Mortgage - they have aggressive programs for credit challenged. You'll be surprised.
225838
If you have lousy credit, the lender will probably not let you take over the mortgage.   Your avatar is a female but you have a wife.  This is confusing.
925726
Some of the points Chris J made are good, but I have to disagree with his recommendation to obtain any sort of credit card.  Easy credit and lack of self control is probably what put you where you are today.  Trying to manage some "good credit" while you are fixing the "bad credit" is a losing proposition.  Develop a budget and focus on paying off all of your outstanding debt.  DO NOT use credit for anything while you do it.  Go to a cash system (maybe a debit card).  If, and only if, you finally become financially responsible, then you can consider building your credit.  Google Dave Ramsey and read about his ideas.  Despite the myths perpetuated by the media, you don't need credit.  The only credit you should ever use is a home loan.  I know someone who had no FICO score and still managed to acquire a mortgage.  \n\nYour best bet right now is...if you can't pay cash for it, you can't afford it.
183973
You would probably have to start out with a secured card, or try getting a store card to build a credit score.  Then as long as your credit score is good you can get one almost anywhere.
828425
To get a good credit score you need to have credit. One good way to get a higher rating is to have a revolving credit card, or if you buy something on installment, make your payment every month and never be late. A few months before the installment note is due, pay it all off. Don't get credit cards where you must pay an annual fee in order to have the priviledge of charging with them. If you have a really bad credit card, close it, but don't open and close too many cards. If you have credit cards, put them away and don't use them. If you open and close credit cards it can adversely affect your credit rating. Do not take out credit cards with department stores, even if they offer discounts on your purchases. In fact, they will lower your credit rating. If you have them, close them, If you want to charge in a store it's better to use a regular credit card such as Mastercard or Visa. Be careful when you apply for loans because every time you apply for a loan the lender checks your credit rating. If you have too many inquiries, that can lower your credit score. If you are about to purchase a vehicle or even a home, shop around for the best interest. If you check with numerous lenders that check your credit rating, it won't lower your score because it will show that you are shopping for a particular purchase and it is good to look for the best interest rate. Once you have credit cards, it's best to keep them open, believe it or not, because if you go for a loan the lender will see that other lenders consider you a good risk. (Maybe it's because they know that if you decide to max out your credit cards and leave the country, there will be a lot of other lenders hunting you down besides them!) If you are just starting out and don't have much of a credit history, go to the bank you bank at and ask for a credit card. They will likely give you one with a low credit limit, such as $200.00. Charge on that card and pay the monthly payment on time. Before long you will have a history of whether you are a good credit risk. If you go to annualcreditreport.org you can get a free credit report once a year. They have information on their web site that will tell you  how to improve your credit rating. Put the credit cards that you already have away in a safe place. Just don't open and close them and open new ones. Use credit cards, but always pay them on time, or at the end of the month to avoid paying interest. Good luck.
1089932
Of course, this is exactly WHY you shouldn't allow yourself to GET bad credit.  It is extremely costly, because it forces you to lose out on good opportunities like this.  There's a very high likelihood that you WON'T be able to get credit anywhere.  \n\nHere's what I would consider.  Try some of the high risk credit card lenders.  See if you can get a home-equity line for your home.  You might also be able to depend on 'trade credit' for part of it (foods, etc.), but you'll still need enough to equip the place, and frankly, your choices are very limited due to your past record.  I hope you can find something.  Otherwise, you'll just have to wait 7 years until your credit clears up.\n\nBest of luck to you.