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How can one get a mortgage with bad credit history?
Although having a good credit history is better when applying for a mortgage it is possible to still get a mortgage with a bad credit history. When getting a mortgage with a bad credit history, one will have to pay a higher interest rate. Show the mortgage lender that you have a good job that will cover your mortgage. If you eliminate all other debt it looks better to the lender and gives one a better chance at getting approved.
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 is the likelihood of being approved for a 237000 mortgage with a credit score of 735 and a yearly income of 61000?
I believe the likelihood is very good - your credit score is very good and your income in good - it also depends on how much debt you have - like credit cards etc....
Is mortgage considered good debt?
Mortgage debt is generally considered "good debt" because it is used to purchase an asset that typically appreciates in value over time. Additionally, mortgage interest rates are often lower than other types of debt, and the interest paid on a mortgage may be tax-deductible.
Can people who have fair credit get a good mortgage rate?
Yes, people who have fair credit get good mortgage rate. They will have to look a lot harder for someone to give them a good mortgage rate, as there are less of them out there.
How can one get a mortgage with bad credit history?
Although having a good credit history is better when applying for a mortgage it is possible to still get a mortgage with a bad credit history. When getting a mortgage with a bad credit history, one will have to pay a higher interest rate. Show the mortgage lender that you have a good job that will cover your mortgage. If you eliminate all other debt it looks better to the lender and gives one a better chance at getting approved.
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 is the likelihood of being approved for a 237000 mortgage with a credit score of 735 and a yearly income of 61000?
I believe the likelihood is very good - your credit score is very good and your income in good - it also depends on how much debt you have - like credit cards etc....
Is mortgage considered good debt?
Mortgage debt is generally considered "good debt" because it is used to purchase an asset that typically appreciates in value over time. Additionally, mortgage interest rates are often lower than other types of debt, and the interest paid on a mortgage may be tax-deductible.
Can people who have fair credit get a good mortgage rate?
Yes, people who have fair credit get good mortgage rate. They will have to look a lot harder for someone to give them a good mortgage rate, as there are less of them out there.
What are the eligibility requirements for coop mortgage loans?
Eligibility requirements for coop mortgage loans typically include a good credit score, stable income, low debt-to-income ratio, and approval from the coop board.
Is mortgage considered a good debt?
Mortgage debt is generally considered a good debt because it is used to purchase an asset that typically appreciates in value over time. Additionally, mortgage interest rates are often lower than other types of debt, making it a more favorable borrowing option.
Will your good credit be affected negatively when obtaining a mortgage with fiance who has bad credit assuming that all mortgage payments are paid on time from day one?
It shouldn't be, but then credit bureaus are rather notorious for errors in reporting. Generally debt incurred separately is reported as such. Joint accounts may or may not appear on a report as joint debt. Any problem that arises might be with the lender rather than the CRA's.
Is a mortgage considered good debt?
Yes, a mortgage is generally considered good debt because it is an investment in a valuable asset, such as a home, that can potentially increase in value over time.
What is the worst thing about bad credit mortgage?
The worst thing about a bad credit mortgage is the price you have to pay. You get a worse rate and have to pay more for longer than if you have a good credit mortgage.
What are some good home mortgage interest rates?
Right now mortgage interest rates are incredibly low. Depending on your credit score, income, and debt load, you could qualify for a rate as low as 3.279% for a $200,000 loan.
Is settlement good or bad on credit report?
Debt settlement is good for your credit rating. Just settle the debt and move on. Do not use a debt settlement company, ever.
