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How to get a mortgage loan with bad credit and good income now?
Wiki User
∙ 13y ago
Find a rent to buy or one where the owner will carry the paper or a co signer.
Wiki User
∙ 13y ago
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What do you need when you apply for a mortgage loan?
Good credit and adequate income.
How can one get approved for a 2nd mortgage loan?
If one were interested in getting approved for a second mortgage loan they would need to have assets, a good credit rating and a consistent income. Some banks may require more.
What is the average expected credit score to receive a mortgage loan?
There is not an average expected credit score to receive a mortgage loan. You may have a low credit score, and an high income and still be able to qualify. Loans are not just based on credit score.
What does a 709 credit score mean?
it means you should be eligible for a mortgage loan of up to but not limited to 100K as long as your monthly income is in good standing.
What is the effect of your ability to get a home purchase loan if you are already a co-signer on another mortgage and the co-signed loan is in good standing and on your credit report?
If that debt is reporting on your credit, then it would affect your debt to income ratio, meaning the amount of debt you can carry. If that mortgage, even if it is good standing, shows a debt against you, you might not have enough income to cover both loans.
What do you need when you apply for a mortgage loan?
Good credit and adequate income.
Get a 4000 loan with poor credit but good income?
I have a good income but poor credit.
How can one get approved for a 2nd mortgage loan?
If one were interested in getting approved for a second mortgage loan they would need to have assets, a good credit rating and a consistent income. Some banks may require more.
What is the average expected credit score to receive a mortgage loan?
There is not an average expected credit score to receive a mortgage loan. You may have a low credit score, and an high income and still be able to qualify. Loans are not just based on credit score.
What does a 709 credit score mean?
it means you should be eligible for a mortgage loan of up to but not limited to 100K as long as your monthly income is in good standing.
What is a state income mortgage loan?
A stated income mortgage loan is a loan where a borriwer is not required to verify there income. These loans were very popular and common before the recent mortgage crisis.
What is the effect of your ability to get a home purchase loan if you are already a co-signer on another mortgage and the co-signed loan is in good standing and on your credit report?
If that debt is reporting on your credit, then it would affect your debt to income ratio, meaning the amount of debt you can carry. If that mortgage, even if it is good standing, shows a debt against you, you might not have enough income to cover both loans.
If you have good credit but not high income and you are interested in purchasing for investment purposes what are your chances of being approved for a loan?
Pretty good if your credit score is high enough. You possibly could qualify for a "Stated Income" loan. On investment property for a stated income loan you normally would have to have a 10% down payment. You can get into a mortgage loan with a lesser down payment going this route, but, you'll definitely be paying for it in your interest rate.
Is a credit score of 697 good enough to get a mortgage?
Generally, FHA credit score requirement is 620-640, and 660 for a conventional loan, so yes. The rest depends on your income, debt to income ratio, and down payment.
How can one get a refinance mortgage loan in Spain?
In order to refinance a mortgage in Spain, a consumer must have the proper documentation and be the same as when the mortgage was originally applied for. The documentation would include passports, documentation of income and have a good credit rating.
Is it possible to get a mortgage in my name if i already have a joint mortgage?
Sure, as long as your resulting monthly payment and downpayment are within the lending instiutitions acceptable guidelines for "loan to value" and "debt to income" ratios and your credit rating is good, you can qualify for any type of new loan, including a mortgage.
What income level is required to obtain a chase home mortgage?
It would depend on things such as the loan size and type, the credit rating of the applicant, and also any assets the applicant may use to guarantee the loan. If the applicant has a good enough asset base to use to guarantee a loan then there would not be a necessary income level for a Chase mortgage.
