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I have bad credit, but I have a 70k + salary / yr, guaranteed by the VA, and a decent buyer credit unions (Mrs) no chance to get a home loan around 100k in NW Oklahoma

2 Thoughts on Home mortgage questions for a person?
  1. Reply
    TruthMastaT
    January 30, 2011 at 5:39 pm

    I think you have an excellent chance of getting approved for a mortgage based pimarily on the price of the house compared with your yearly earnings. In my opinion (this is not industry standard), a CONSERVATIVE price for a home is twice your yearly income. The price of this home is only about 1.5 times your yearly salary which sounds very manageable (assuming you don’t have a ton of other bills to pay with your wages).

    As you probably know, the more money you can put down on the loan, the less risky it is considered by the mortgage company. And the less risky the loan is, the more likely you are to have the loan approved. You may not be able to get the lowest interest rate available since you have poor credit but you should be able to get a loan. And even a “high” interest rate these days are pretty low if you ask me.

    Good luck!

  2. Reply
    Aan Ya
    January 30, 2011 at 6:37 pm

    There are so many private organization who give easy loan and they dont have fear to give small amount to people on behalf of just some paper.i know that because i take that personal loan from an organization and they help me to understand about that loan. after that whenever i need any kind of loan , i just call to them and they help me every time.
    i hope they can help you as well. just try your luck.

    http://badcreditloans.50webs.org/homeloans.html

    they even send people to your door step who give you total information about loans. try this and if they cant help you then dont worry, there are so many other options are also which can help you according to your needs.

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