does anyone know of a company that will give bad credit home loans without a huge down payment?

8 Comments

1. J Doe says:

   October 21, 2011 at 11:00 am

   H.U.D. Housing or Fannie Mae. They even have web sites.
2. heatheroo says:

   October 21, 2011 at 11:57 am

   Go to your local government website and look up deals. In florida they have acorn financing that is excellent.

   Start at http://www.hud.gov and look up Home Ownership. They will point you to your local office in your town.
3. aj485 says:

   October 21, 2011 at 11:58 am

   Depends on what you consider ‘huge’. FHA loans require a 3% down payment, but there is lots of documentation that needs to be provided.

   Most banks offering conventional loans for subprime borrowers now require at least 5% for a down payment. Depending on how bad your credit is, even more of a down payment may be required.

   On a $200k loan, 3% would be $6000 and 5% would be $10000, so if you consider that amount ‘huge’ and are getting a loan about that size, then you will probably have a difficult time finding a loan.
4. rob b says:

   October 21, 2011 at 12:47 pm

   I just wondering if you’re after a secured loan in order to consolidate smaller unsecured loans… If so my advice to you is don’t do it… don’t put your home at risk… you just end up paying more over a longer period of time with more dire consequences if you can’t afford the repayments…
5. Steve D says:

   October 21, 2011 at 1:19 pm

   One good way to find a home loan that meets your requirements is to use one of the free online services that get you competitive quotes from several lenders. The nice thing is that the lenders who work through these services know that they’re in a competitive situation, so they tend to do their best to make their quotes competitive. Just be honest about your situation when you fill out the form, and you should get some good responses.

   Here’s a page that lists several of these free services:
   http://finance.necessaryvirtues.com/debt-resources/mortgage-and-other-loans/
6. Trish L says:

   October 21, 2011 at 2:11 pm

   try NHBS, Inc, my aunt got her home loans from them
7. mjg says:

   October 21, 2011 at 2:30 pm

   how bad is your credit? and someone might give you loan but the interest rate will be really high, and your monthly payment will mostly go to interest..
8. julia says:

   October 21, 2011 at 2:55 pm

   there are very few companies as the risk is on higher side