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Old 08-31-2013, 06:45 PM
 
Location: flower mound, texas
3 posts, read 3,569 times
Reputation: 10

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I am separated and trying to get into a humble property that has the land needed for me to establish my business - which entails growing specific plants with organic compost etc. The property I have been eyeing is under 60k and I have 15% down but the people that have approached me to help me have asked for compensation that is miles beyond what I could ever afford. I have excellent rental history but no credit. I understand that my credit issues will not afford me the low rates offered at banks but at the same time with 15% down I cant afford to pay $1300 a month for 15 years on a property that is only 60k. The property where I have been living for the past 8 years is about to sell and be torn down. I do not want to rent another property because I need to put in a lot of money (connected with the business I have) into the property and I cannot do that with rental. I would really appreciate anyone's input or creative ideas for home financing for those with less than perfect credit. Please positive comments only - no complaints on any service out there lest this thread be cut. Thank you.
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Old 08-31-2013, 10:22 PM
 
Location: Carmichael, CA
2,410 posts, read 4,460,990 times
Reputation: 4380
I bought my house with bad credit and suffered the horrible payment for a year, then re-financed and got a much better interest rate.

Have you talked to a mortgage broker? They usually work with all kinds of lenders and may be able to find a lender that will work with you.
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Old 09-01-2013, 01:56 AM
 
24,409 posts, read 27,001,341 times
Reputation: 20013
Can you show steady income for the past two years?

I am a mortgage broker and I don't know any other mortgage brokers that don't offer free consultations. You should speak to one to see your options (if any).
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