FHA Home Mortgage Loan Interest Rates

5 Responses to “Has anyone gotten an fha home loan with bad credit?”

1. ibu guru says:

   January 28, 2010 at 12:05 pm

   The 8-year-ancient bankruptcy is a bit stale, and it will depend more on how she has been handling her finances since. FHA lending standards – like everyone’s these days – are tougher. It will depend on her down payment and additional cash reserves, income and affordability ratios, how much debt (car loan, credit cards, etc) she has, and most importantly, how she has been handling her bill paying since the bankruptcy. If she has never had a late payment since, FHA or a bank will very likely consider her to have “learned her lessons” and become a excellent risk despite the ancient bankruptcy’s impact on her credit score.
2. LU13 says:

   January 28, 2010 at 12:42 pm

   ya with banks in a hole right now, not to many people are getting loans that have terrible credit.
3. linkus86 says:

   January 28, 2010 at 1:09 pm

   Yes if she has had no late payments in the previous 12 months and has collections (including judgments) that amount to less than $1000 with no single collection above $100.
4. Renu G says:

   January 28, 2010 at 2:01 pm

   If you have a terrible credit history still the loan market place is full of lenders who are ever willing to offer you a fresh loan. But you should be meeting some conditions laid down by the lenders. Loans for terrible credit people are in fact simpler to get then they were ever before, thanks mainly to cut-throat competition amongst the lenders. Lenders are giving loans to the terrible credit people who have late payments, payment defaults, arrears, county court judgments or any credit problems. These loans are available for any purpose like home improvements, purchasing a new or used car of your choice, for wedding and holiday tour, debt consolidation or for paying child’s tuition fees.

   Every lender in approving loans surely likes to see if the terrible credit borrower has sufficient capacity to repay the loan in timely manner. If the borrower earns well, has regular bank balance, has been an employee for some years and has a convincing loan repayment plot in place, then the lenders do not usually hesitate much. So ensure that you have adequate repaying capacity before applying for a loan. Also, you should first check your credit report for any errors. If your credit score is too low then you would be charged a very high rate of interest. So it is advisable to first pay off some simple debts to improved credit score and then you should apply for loan at better rates.

   http://badcreditloans.50webs.org/badcreditloans.html
5. Jennifer says:

   January 28, 2010 at 2:21 pm

   Hi,
   I used “Credit Solution” to settle my debt and recover from bankruptcy.They managed to reduce my debt up to 58%.It’s legitimate.I came across this company on NBC News Special Edition.Check it out here:
   http://yatuc.com/bid

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