Chosen by Asker

You need to ask YOUR CREDIT UNION about THEIR rules about being at the same job for 2-3 years. For most lenders it is 1 year, but credit unions each have their own rules. You will need to have decent credit....generally over 700. Also the monthly payment of the house (with insurance and taxes) generally cannot be more than 31% of your monthly pay, and no more than 48% with ALL other debts (credit cards, car loan, student loan, etc).

by Ryan M

3 weeks ago

Asker's Rating: 

You are doing the right thing. Make sure your credit is excellent so you qualify for the best interest rates, and have an emergency cushion in addition to your down payment for maintenance and repairs.

by CAtransplant- 3 weeks ago

Home loans for bad credit are for people who find it difficult to get loan facilities due to poor credit ratings. However, people with bad credit may have to deal with several difficulties at times and they also pay slightly higher interest rates for the loans. One of the best ways to increase your chances of getting a home mortgage loan if you have poor credit is by improving your credit history. Besides, you can get in touch with some good sub prime lenders who may be able to assist you in getting the best deal in getting such loans. www ... There are many reasons why anyone can get a negative credit history, which includes overspending and lack of proper financial planning. Many of us fall into a debt trap owing to excessive use of credit cards, which can sometimes put a strain on financial resources and result in late payments. These last payments impact on our credit scores.You can improve this situation by prioritizing your needs well and set some money aside, which can be used to clear off your debts on time.

by Andrea- 3 weeks ago