Homeloans 101

Miranda asked:


My credit score is in the low 600s, less than 620. My husbands is in the 500s. Both score are the results of ex’s, and we have been working to bring them up for a while now. We would like to purchase a manufactured home around April 2008. We have 1 acre of land that we own free and clear and about a 15% downpayment on a $70,000 home. Does anyone know what our chances are of getting a loan? If we cannot get one qwith that criteria, does anyone know how much more down we would need or what our minimum score would have to be? Thanks.

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Mara asked:


If you don’t have any other repayments and have good credit history, is it financially possible getting your own home loan? Or is this too little? I’m in Melbourne, and the units cost $370 000 and over…:(

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photofemale810 asked:


There is an HUD home for around $30000, my husband an i are thinking about purchasing, we’d need a mortgage for around $50000. We don’t have good credit, can a VA loan help with that? Any other suggestions?
Just to clarify, the house is valued at $78000, but has been on the market for 2 years, which is why the broker has lowered the price to 30000.

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Ashley M asked:


I ruined my credit in college and as a result I have about $10,000 in debt. Most of the accounts are in collections, charge offs, or past due. The only thing positive on the report are my student loans and my car loan. I have heard of disputing the reports, but I also want to find a credit repair firm that will allow me to make payment arrangements. I want to improve my credit rating so that I can purchase a home in a few years, get approved for more credit cards and also get a new car.

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Stefani asked:


I just got a job, like days ago and want to apply for a home loan? Is that looked at by the mortgage company, or does it not matter?

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Radiostar73 asked:


Any idea how much it costs to have a credit repair company try and fix your credit report
I know that credit repair is mostly a scam, but I’m curious about the actual amount

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lanena423 asked:


I have heard about credit repair companies that can get negatives off your credit report but have heard that there are alot of frauds out there too. So has anyone actually tried one that works?

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irene asked:


I want to buy my own home and need a home loan but i also want to consolidate my debts into the home loan as well. Does anyone know of any australian lenders that i should contact?

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Mel asked:


I heard that I must wait 3 years after filing bankruptcy to use my va home loan or buy a house.

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Cool asked:


Which one to go for while taking a home loan.Fixed/Floating rate of interest.What are the differences?

What are the benefits of each one of the above?

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