can i get financed with large down payment??? - Loan Modification Forum

dlow265 · 08-19-2008, 07:14 AM

im 26 yrs old, never bought a house, so im clueless on this issue. i have bad credit but no recent credit at all for 2 yrs. my score is 525. i have atleast $20,000 down and could put $22,000 down on a 75,000 dollar home in oklahoma. will anyone finance me? if so who? FHA? can someone please guide me in the right direction. who can help me out the most? i dont even want to talk to my banker because my credit score is im sure an issue. thanks for your time and patience dealing with my ignorance on this situation.

Dan Bailey · 08-19-2008, 07:21 AM

Hello dlow, and welcome to the forum! ***, Moe or Andrew will be by shortly to answer your question.
Although this forum is mainly for those seeking to get out of predatory loans, Im sure that by reading through some posts you can learn from some of our experiences. Things are very tight in the lending business right now.

dlow265 · 08-19-2008, 07:27 AM

oh ok sorry. i didnt know i was in the wrong place. again that just shows how i need to get advice on this deal. i know hardly anything. i just dont want to end up spending this down payment. i want it invested in real estate a.s.a.p. again, thanks for your patience with me.

Dan Bailey · 08-19-2008, 07:31 AM

No problem dlow...theres alot of good info on this site....and protecting yourself before signing up for anything is a GREAT idea. Many of us are here because we got taken advantage of during the financing process.

Moe Bedard · 08-19-2008, 05:19 PM

Hi dlow265,

Welcome to the forum and thank you for joining.............

Here is a good place for you to start to take a look at what lenders are looking for in the FHA loans................click on the lenders link below......
also you can do a search on the FHA site for FHA approved lenders in your area.........

Good Luck!!!

Lenders

dlow265 · 08-19-2008, 06:22 PM

thank you ***.

08-19-2008, 07:14 AM	#1 (permalink)
dlow265 Junior Member Join Date: Aug 2008 Posts: 3 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	can i get financed with large down payment??? im 26 yrs old, never bought a house, so im clueless on this issue. i have bad credit but no recent credit at all for 2 yrs. my score is 525. i have atleast $20,000 down and could put $22,000 down on a 75,000 dollar home in oklahoma. will anyone finance me? if so who? FHA? can someone please guide me in the right direction. who can help me out the most? i dont even want to talk to my banker because my credit score is im sure an issue. thanks for your time and patience dealing with my ignorance on this situation.

08-19-2008, 07:21 AM	#2 (permalink)
Dan Bailey Loan Safe Moderator & Homeowner Guide Join Date: May 2008 Location: Wilmington NC Posts: 1,407 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: can i get financed with large down payment??? Hello dlow, and welcome to the forum! *, Moe or Andrew will be by shortly to answer your question. Although this forum is mainly for those seeking to get out of predatory loans, Im sure that by reading through some posts you can learn from some of our experiences. Things are very tight in the lending business right now. __________________ Loansafe saved my home!! I may be alot of things, but I do know the difference between reply and forward.**

08-19-2008, 07:27 AM	#3 (permalink)
dlow265 Junior Member Join Date: Aug 2008 Posts: 3 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: can i get financed with large down payment??? oh ok sorry. i didnt know i was in the wrong place. again that just shows how i need to get advice on this deal. i know hardly anything. i just dont want to end up spending this down payment. i want it invested in real estate a.s.a.p. again, thanks for your patience with me.

08-19-2008, 07:31 AM	#4 (permalink)
Dan Bailey Loan Safe Moderator & Homeowner Guide Join Date: May 2008 Location: Wilmington NC Posts: 1,407 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: can i get financed with large down payment??? No problem dlow...theres alot of good info on this site....and protecting yourself before signing up for anything is a GREAT idea. Many of us are here because we got taken advantage of during the financing process. __________________ Loansafe saved my home!! I may be alot of things, but I do know the difference between reply and forward.

08-19-2008, 05:19 PM	#5 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: can i get financed with large down payment??? Hi dlow265, Welcome to the forum and thank you for joining............. Here is a good place for you to start to take a look at what lenders are looking for in the FHA loans................click on the lenders link below...... also you can do a search on the FHA site for FHA approved lenders in your area......... Good Luck!!! Lenders __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

08-19-2008, 06:22 PM	#6 (permalink)
dlow265 Junior Member Join Date: Aug 2008 Posts: 3 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: can i get financed with large down payment??? thank you ***.

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