Looking for a loan to buy a condo - Did Bankruptcy 2 years ago
Where should I start? My score is in the high 600 (almost 700), and I plan on puting 50% down on a 40k loan. My income is not too high, but its steady. My partner has good income, but his score is in the mid 600. We are in the Atlanta, GA area. Anyone can help? by rochel_922_843 from Atlanta, Georgia. Jul 24th 2012
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Your best bet is to contact a local credit union or local big bank... they are the only ones who can charge you enough to make a 20K loan worth doing... Some lenders go down to $50K, some $75K, but because of the current laws, brokers are limited as to how much they can charge to do a loan.. Banks on the other hand, don't go by the same laws.. they can charge you what ever... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
Because of compensation rules, if is very difficult to find anyone outside of a small community bank or credit union that will do a loan under $50,000. Adding a recent bankruptcy doesn't help either. You will need to look locally. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950
Cecelia Marlow (cmarlow)
#50 ranked lender in Illinois - 9 contributions
Hello Condo Buyer, Most banks have minimum loan requirements, so while your credit score, based on what you've suggested appears to be qualifiable, to get a loan for $20K will be rather tough. You may want to look into a small community bank in your area to find out if they can help. Hope this gives you a place to start and good luck in your endeavors.Cecelia MarlowVice President - The Federal Savings Bank312-738-6294www.yourhomeloanpartners.com
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