RE; FRIEND NEED A LOAN TO BUY MY HOME

[melissa]

HI MY FRIEND NEED NEEDS A LOAN THEY FILED BANKRUP YEAR NAD HALF AGO DO YOU THINK YOU COULD HELP.

[Jason Sardi]

Here's the scoop because manufactored housing isn't easy to finance these days. To answer your question about the bankruptcy, first off it depends if they've been a good little boy or girl since then. Have they paid their bills on time, made car payments, mortgage payments, credit card payments on time, etc? Secondly, you have to put money down. 10% is all right, but 15 % is almost necessary especially in their case. I am a mortgage consultant here licensed in Pennsylvania and may be able to help your friend. I do have investors that will finance up to 95%, but your credit has to be superb and that bankruptcy would make it difficult if not totally impossible to do that. But, if they have a chunk of money to put down and have paid bills on time since that, should be good to go. I work for First Choice Equity Group here in Allentown, Pa. My toll free number is 1-866-262-8720 ext. 229. If she is in Pa, I can probably help her.

Regards,

Jason

[rmurray]

The other post here is on the mark....If your friend is trying to buy and finance a home only..it will be very hard to do...

Land/home packages might be available through the FHA...but credit will have to be perfect since and they will have to have 2 years of verifiable employment or income..they will have to have 4 accounts paid perfect for the last 12 months (could be rent..lights..phone....) and downpayment will be about 3%...

Most non FHA lenders will require the bankruptcy be more than 2 years ago..

Almost every credit file of those who have filed bankruptcy has major problems and errors...The first step would for them to get their files from the 3 big CB's..review them..then work on fixing the errors...

[Jena Heth]

I have a client with a 714 credit score, 15% down on a $290,000.00 purchase price. 1980 dbl wide on 5.02 acres. Rural, about 7 miles out of town. Well, Septic home inspection done and passed.
Buyer is self employed and needs stated income or 12 months bankstatements loan.

Please help