0
If your husband and you both have poor credit due to unforeseen circumstances but have a perfect rental history for 1500 month can you still be approved for 100 financing in New Jersey?
Wiki User
∙ 8y ago
You don't say what your credit scores are so I will tell you this-- if your scores are 560 and above, your credit scores are low because of past due payments, you don't owe any outstanding balances on accounts that have been charged off (as they will have to be paid off at the closing)--you can get an approval.
You will need closing cost money as sellers won't be able to pay it all.
You need to find a mortgage loan broker--call the state licensing dept and get names of companies in good standing. Talk to several people-meet with them--don't just go with the first good talker unless he/she out talks the others. He/she needs to work with several lenders with a variety of programs. Get everything in writing--fill in all blanks. Do not give your social security numbers to anyone until you are ready to have your credit pulled.
Have all your paperwork ready--bank statements (last 2 months-no nfs showing), any assets that you can show like savings, life insurance money, 401K with some kind of liquid balances, gift letter from a very close relative and a cry letter* and copies of last 12 rent checks,(front and back)or the last 12 bank statements showing that the same amt $1500 was paid about the same time every month or a verification of rent letter signed by a management office. (It can not be a letter written by the landlord as a lender will not accept one).
Cry letter--should explain why you went past due, how you were able to fix the problem and how you really want to buy this house.
Good Luck!!
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
Secured Auto Loans Financing For People With Bad Credit?
If you are a looking for financing to buy a car but your credit history is bad, it may be difficult to get approved for by the traditional lenders. However, this does not mean you cannot entirely get financing. With increased competition in the auto financing sector, lenders have come up with solutions for people with bad credit. To easiest way to get financing with bad credit is to provide collateral for amount you are borrowing. The common forms of collateral accepted include house equity, property and business shares. If you have collateral, you can easily get approved for a bad credit secured loan.
Will you get approved for a business financing loan with bad personal credit?
You will have tough time in getting business financial loan approved if you have bad personal credit history. This is more so if the business is proprietary business. The strong collateral security will be useful to solve the problem.
What has the author Emmanuel Lvinas written?
Emmanuel Lvinas has written: 'Unforeseen history'
Account receivable financing is based on What?
There are three major factors in accounts receivable financing. Receivables buyers look at the size of the accounts, buyers' credit history, and the age of the receivable.
What are the benefits of using owner financing?
Owner financing is a great option for buyers who cannot get a conventional mortgage for one reason or another. Either they do not have a steady income history or they have no job.
What is Accounts receivable financing is based?
There are three major factors in accounts receivable financing. Receivables buyers look at the size of the accounts, buyers' credit history, and the age of the receivable.
Do auto lenders only look at your credit score or your specific credit history?
Score but if you're on the border of being approved or not approved then they'll look at the history too. Regardless, your entire report comes up (score and history).
What is a history of ancestors?
Genealogy is the study of your ancestors and their relatives, and of the circumstances in which they lived.
Improving Your Chance of Approval?
Getting your loan finance application approved can be difficult. Consumers need to realize that they must have good credit in order to have their application approved. Borrowers who have a history of making on time payments, remain within their credit limits and have a long positive credit history have a better chance of being approved. Also, having a steady source of income as well as a positive history of employment can help your credit application to be approved.
Was Harry a History approved by JK Rowling?
Most likely as she wrote the foreword for it.
How can you tell if you or another has approved your statement?
Click the Show statement Approval History
Where can one get bad credit or no credit loans for car financing?
Many car dealerships offer financing for people with bad credit or no credit history. These loans will have a higher interest rate because a person with a bad credit history or no credit history is considered are often considered to be high risk. Checking with a local dealership will determine if the offer this service at their location.
