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Home > Money & Services > Mortgages   »   Anyone know a lender.

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Old Sep 14, 2007, 12:27 PM
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Anyone know a lender.
or a way for me to buy a home with reallly bad credit. I have a home I want that is only 39K and I have 7K to put down on it but am not getting any takers. I have been paying 650 a month in rent and the mortgage would only be 250 so that would free up a lot of money for me but have not been able to get anyone to consider it.

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Old Sep 14, 2007, 12:43 PM   #2  
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I dont know how bad your credit is, but try first horizon...

First Horizon > Business Banking, Home Loans, Mortgage Loans, Home Equity Loans, Financial Services
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Old Sep 14, 2007, 12:50 PM   #3  
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Where are you getting $250 from? A $32K loan for 30 years at 6% would be $378/mth and that doesn't include taxes and insurance.
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Old Sep 14, 2007, 12:54 PM   #4  
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my mortgage calculator must be off. I ran 32k at 7% for 30 years and got $212.90

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alkalineangel agrees: I also got this amount at 7%...
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Old Sep 14, 2007, 12:57 PM   #5  
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hmm...I got 191..on 32k for 30 years at 6%....before taxes and insurance...
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Old Sep 14, 2007, 01:15 PM   #6  
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I was told by one banker if it went through it would be 7% for 30yrs 250
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Old Sep 14, 2007, 01:21 PM   #7  
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just FYI though, you will actually not be that much lower than 650 after taxes and insurance...i would guess 200 extra for taxes, insurance and PMI...
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Old Sep 14, 2007, 01:33 PM   #8  
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Hello k:

Ask the seller to finance you or sell it to you on a contract.

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Old Sep 14, 2007, 02:55 PM   #9  
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Try Wachovia, I have bad credit and they financed me.
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Old Sep 14, 2007, 06:55 PM   #10  
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I just grabbed the first online mtge calculator I came to, looks like it was off.
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