Is it possible to get a mortgage loan with poor credit?

I filed bankruptcy about 4 years ago and my credit has been raising slowly. I pulled my credit report and found two medical collections against me that were not mine. I contacted the proper people and they agreed to remove them. Only one was removed and I have been trying for 6 months to get the other off. I have a letter stating they both were to be removed, but when applying for a mortgage online they pull my credit report and see a collection against me.

My debt to income ratio is pretty low so I sould qualify for a home purchase loan, but I have been turned down by my credit union.

Who offers home loans for people with credit problems?

Is it possible to get a mortgage loan with poor credit?

Find yourself a company that will do a manually underwritten loan. I know churchhill mortgage does them, though I am not affiliated with them in any way.

Is it possible to get a mortgage loan with poor credit?

Not this week. Two weeks ago there would've been no problem.

Is it possible to get a mortgage loan with poor credit?

I think the medical collection will hurt you less than the bankruptcy. You may eventually get a loan, but expect to pay around 9% or more.

Is it possible to get a mortgage loan with poor credit?

You do not need good credit for a mortgage. As long as you have a stable job, if you put enough down, you can get a loan. Remember that you'll probably pay a higher interest rate, but also remember that the bank owns the property.

Home and car loans are the easiest because there is collateral. Bank don't make money unless they loan it out.

Go for it.

Is it possible to get a mortgage loan with poor credit?

A month ago... maybe.

But the sub-prime market has collapsed, they will not loan you money unless you have a large down payment (at least 20%) and even then, you will pay high interest.

Is it possible to get a mortgage loan with poor credit?

Generally speaking a bankruptcy will hang around your neck for 7 years (at a minimum). Today, our economy and the entire housing industry is in the toilet because of high risk lending practices. With the mortgage industry going through the floor and foreclosures at an all time high, these banks have firmed up the loose lending practices and continue to do so. I seriously doubt, regardless of your debt to income ratio, that any bank will be doing business with you. If they do, you can virtually guarantee the interest rate is going to be high.

Save your money and continue to work on building up your credit.

Is it possible to get a mortgage loan with poor credit?

have you listened to the news in the last couple of weeks? over the last few years banks have been handing out loans to just about anyone and are now getting screwed so it is getting harder and harder to get a loan, if you can wait a year or so to purchase a home you'll have an easier time getting financed because of all the forclosers the banks will want to off load these propertys.

Is it possible to get a mortgage loan with poor credit?

yes. I found interesting information about your answer %26amp; the best options here.

http://all-mortgage-calculators.blogspot...

Is it possible to get a mortgage loan with poor credit?

There are many home loans companies but before you go for one apply online and get free quotes and then compare and gop for the loan. With bad credit it may be a little difficult but you will get one.

To know more you can visit

http://www.easyhomeloans.blogspot.com