Comments on: Is it possible to get a mortgage with a decent, fixed interest rate with bad credit? http://www.fn-live.com/is-it-possible-to-get-a-mortgage-with-a-decent-fixed-interest-rate-with-bad-credit.html Loan and Financial Info Mon, 01 Feb 2010 15:06:52 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: becky w http://www.fn-live.com/is-it-possible-to-get-a-mortgage-with-a-decent-fixed-interest-rate-with-bad-credit.html/comment-page-1#comment-4306 becky w Thu, 04 Jun 2009 03:34:07 +0000 http://www.fn-live.com/is-it-possible-to-get-a-mortgage-with-a-decent-fixed-interest-rate-with-bad-credit.html#comment-4306 My husband and I just bought a house and it sounds like we are in the same situation. I have bad credit, my husband has fair crdeit. So, we talked to out mortgage lender and they said the best thing for us was to have the home only in my husbands name, otherwise my bad credit causes us to have a very high interest rate. Plus, if something, god forbid happened like a divorce, since we were merried before the purchase of the home, I still have say in the settlement. We also looked into lending tree, but they wanted a large amount down, like 20%, and we just didn't have it. So we went through citizens bank. They only required 3% down, and when we bought our house we put in the offer that the home owner pay our closing costs and 3% down.. People really want to sell there homes, so go for it. P.S. We got a locked interest rate od 6.5.% Not bad for not great credit. My husband and I just bought a house and it sounds like we are in the same situation. I have bad credit, my husband has fair crdeit. So, we talked to out mortgage lender and they said the best thing for us was to have the home only in my husbands name, otherwise my bad credit causes us to have a very high interest rate. Plus, if something, god forbid happened like a divorce, since we were merried before the purchase of the home, I still have say in the settlement.

We also looked into lending tree, but they wanted a large amount down, like 20%, and we just didn’t have it. So we went through citizens bank. They only required 3% down, and when we bought our house we put in the offer that the home owner pay our closing costs and 3% down.. People really want to sell there homes, so go for it.

P.S. We got a locked interest rate od 6.5.% Not bad for not great credit.

]]> By: abrahamrbgem http://www.fn-live.com/is-it-possible-to-get-a-mortgage-with-a-decent-fixed-interest-rate-with-bad-credit.html/comment-page-1#comment-4305 abrahamrbgem Sun, 31 May 2009 22:45:52 +0000 http://www.fn-live.com/is-it-possible-to-get-a-mortgage-with-a-decent-fixed-interest-rate-with-bad-credit.html#comment-4305 Forget lending tree. You want to be able to look your broker dead in the eyes when he's tossing out that interest rate. As far as getting a decent interest rate with bad credit goes, depends what's decent to you. More directly, NO! Should that stop you from making a purchase, maybe! If you find a really good deal, I would suggest buying it now, taking whatever rate they give you, just be sure that the loan program they give you does not have a prepayment penalty, and refinancing in about a year after having fixed your credit. Forget lending tree. You want to be able to look your broker dead in the eyes when he’s tossing out that interest rate.

As far as getting a decent interest rate with bad credit goes, depends what’s decent to you. More directly, NO! Should that stop you from making a purchase, maybe! If you find a really good deal, I would suggest buying it now, taking whatever rate they give you, just be sure that the loan program they give you does not have a prepayment penalty, and refinancing in about a year after having fixed your credit.

]]> By: Octavius http://www.fn-live.com/is-it-possible-to-get-a-mortgage-with-a-decent-fixed-interest-rate-with-bad-credit.html/comment-page-1#comment-4304 Octavius Sat, 30 May 2009 18:40:24 +0000 http://www.fn-live.com/is-it-possible-to-get-a-mortgage-with-a-decent-fixed-interest-rate-with-bad-credit.html#comment-4304 No, unfortunately only crefit sharks will go for it and rip you off with high interest rates No, unfortunately only crefit sharks will go for it and rip you off with high interest rates

]]> By: Family Guy Rules http://www.fn-live.com/is-it-possible-to-get-a-mortgage-with-a-decent-fixed-interest-rate-with-bad-credit.html/comment-page-1#comment-4303 Family Guy Rules Fri, 29 May 2009 02:19:16 +0000 http://www.fn-live.com/is-it-possible-to-get-a-mortgage-with-a-decent-fixed-interest-rate-with-bad-credit.html#comment-4303 Credit cards have interest rates Credit cards have interest rates

]]>