0
Can you purchase home with a 520 credit score in 2009 with 15000 down and the home being only 165000 in GA?
Wiki User
∙ 14y ago
Well I am an underwriter in Georgia and I can tell you it is very hard these days to get a decent mortgage with a credit score that low...however....if your score is low due to errors or a bankruptcy that has been discharged..you can provide "alternative" credit references to build a "non-traditional credit report.. Like your rent, insurance, utility bills etc... Everyones credit report is different and has to be looked at that way. If your scores are low due to late payments & public records then you will have to wait and "re-establish" your payment history over a 12-24 month period. There are sellers willing to "rent to own" or do seller financing in those kind of cases..you just have to keep looking for the right property with a seller who is willling to take that chance.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What is benefit of credit card?
The benefit is being able to purchase something you can't afford. I will go ahead and add this though, since other people will likely comment on it: most of the time, if you can't afford to purchase something without putting it on a credit card, you should evaluate whether or not you should really purchase the item. Credit cards are great for unexpected expenses like car repair, but most people simply use them to purchase things they don't really need and can't afford, and that is what generally causes financial problems.
Can merchants place a minimum amount on credit card purchases?
A merchant can & will require a minimum purchase amount in some cases. The credit card company charges the merchant for each transaction. If a purchase does not exceed the amount they are being charged from the cc company, they can decline to process your card. Most merchants have a sign explaining their policy.
How can I prevent my credit card from being declined?
You can prevent your credit card from being declined by paying your bill on time and not exceeding your credit limit.
Does being denied for credit lower your credit score?
Yes. It is reported on your credit report.
Is My Credit Rating Essential In Acquiring Financing?
Credit ratings have become progressively more essential inside a financial institution’s decision to lend money. Most banking institutions make use of a credit rating being an indicator of methods an individual handles their finances. Just before using for a loan, you can purchase your credit rating and credit history. The SBDC can measure the impact your credit rating is wearing what you can do to secure funding.
What is the credit entry for purchase?
purchase a/c Dr To Customer Name (Being Credit Purchase to C ' Name Rs)
What is the journal entry for credit purchases?
purchase a/c Dr To Customer Name (Being Credit Purchase to C ' Name Rs)
Why customers buy on credit?
Customers buy on credit for a few reasons, the main one is that at the time of purchase they may not have the required cash for the purchase. Also, customers will buy on credit because it's easier than carrying cash, they can keep their cash on hand and make payments toward the purchase instead of being out the amount of cash at that time.
Are there any credit cheats for Habbo Hotel without phoning and being a HC or VIP?
There are no credit cheats for Habbo Hotel. You must legally purchase credits though a valid payment method found on Habbo.com. Also, being an HC or VIP does not give you special abilities to "credit hack, credit cheat, etc".
What is the journal entry for purchasing goods on credit?
Purchase a/c Dr Input vat a/c Dr To Party a/c (Being goods purchased on credit from supplier/creditor.)
Are banks allowed to put an unplanned overdraft on your account with out your permission?
Some banks and credit card companies do this routinely as a "courtesy" to their customers so they can avoid the embarrassment of being refused a purchase for lack of credit.
What is benefit of credit card?
The benefit is being able to purchase something you can't afford. I will go ahead and add this though, since other people will likely comment on it: most of the time, if you can't afford to purchase something without putting it on a credit card, you should evaluate whether or not you should really purchase the item. Credit cards are great for unexpected expenses like car repair, but most people simply use them to purchase things they don't really need and can't afford, and that is what generally causes financial problems.
What is a good credit score for buying a car?
When buying an automobile, credit scores can be very important. A good score depends on the scoring model being used, out of the hundreds that exist. Your credit can impact your car purchase since lenders often look at scores as a point of reference in determining the loan specifics and interest rate.
Can merchants place a minimum amount on credit card purchases?
A merchant can & will require a minimum purchase amount in some cases. The credit card company charges the merchant for each transaction. If a purchase does not exceed the amount they are being charged from the cc company, they can decline to process your card. Most merchants have a sign explaining their policy.
Is a debit card the same thing as a being in dedts?
Not necessarily because when you make a purchase, the amount will be charged to your bank account. Therefore, in effect you are paying in cash and not on credit.
How will defaulting on your mobile home loan affect you in South Dakota?
IT'S LIKE DEFAULTING ON ANY OTHER HOME LOAN. YOUR NAME WILL GO INTO THE CREDIT BUREAU IT WILL AFFECT YOUR CREDIT SCORE AND NOT BEING ABLE TO PURCHASE ANOTHER HOME/CAR.
How can I prevent my credit card from being declined?
You can prevent your credit card from being declined by paying your bill on time and not exceeding your credit limit.
