|
By David Rolle`
You`ve searched high and low around town looking for that special home for you
and your family. Everyone agrees that "this is the one"! Your down payment
for the home is large enough, but you know your credit is terrible, or worse,
practically non-existent.
It is a given that banks tend to lend money to people who a) have enough cash
that they don`t need a loan; b) possess good to very good credit.
Another nightmare with having bad credit is the closing costs. On conventional
loans designed for individuals with credit problems, closing costs can be
considerably higher. The higher interest rate will also cause the monthly
payment to increase.
In addition, the percentage of the down payment needed towards the real estate
cost will also increase. The required down payment for credit-impaired
applicants can easily be 10% to over 20% in some cases.
Based on a $100,000 home, this could easily equal $10,000 to $20,000 in down
payment towards the real estate cost-not including closing costs.
Some of you reading this might be thinking aloud, "Yeah, that`s just how the
system is, right"? Not much can be done about my bad credit.
Although the "system" appears to be working against you, you can still get the
dream home you desire.
Fortunately, there are little, but very effective techniques being used by
people to establish AAA credit, wipe out debts, and proceed to get the house
they want. All in the same time period.
A good idea would be to start with your credit. If you have non-existent
credit, you can apply for (and receive) credit cards that will build up your
credit score. These credit card companies report to the major credit bureaus
that you`ve been paying your credit card bills each month.
During this time, you can look for funding programs that would be willing to
listen to your situation. They want to help you obtain the funding to
purchase that new home you want.
Such funding programs like to work with the seller exclusively, (For Sale By
Owner). No bank red tape or real estate agents to turn you down for financing.
It`s just you, the funders, and the seller.
There are programs out there that can help you, but you must be very careful
when choosing one for you and your family. Look for programs that are legal
in all 50 states, qualified professionals in their field, and will offer you
one-on-one consultations.
In conclusion, you and your family can still receive the American Dream. Just
taking these steps outlined above can get you there quicker than you ever
thought possible.
David M. Rolle` is a Funding Program Franchise Owner.
He is on a personal mission to help provide financing for those who can`t
obtain it through the banking system.
For information on funding and to claim your free special reports, visit this
site now. http://www.inyourhometoday.com (HREFhttp://www.inyourhometoday.com)
- http://www.inyourhometoday.com (HREFhttp://www.inyourhometoday.com).
|
