Home Loans

Let me just tell you that absolutely NOTHING is the way it used to be in the Lending industry now. I've been a mortgage broker/banker for over 11 years and my husband for 25 yrs. Simply putting 50% down, in absolutely no way, qualifies you for a new loan.

You must meet all of the Lender's guidelines in addition to the down payment. The other criteria are, but not limited to:
- income qualifying (you must prove that you have a stable, verifiable source of income that has been consistent for at least 2 years)
- Credit (bad credit, or no credit just simply doesn't fly in this market)
- Assets after closing (most loans require you to have reserves after the down payment)
- Debt to income ratios (you new payment, combined with your existing debts must be within certain tolerable levels)

The best thing you can do is take the same money you would put down and correct your credit problems. Then, in a few years, you'll be able to actually get a loan.

Sorry if this comes off harsh, but there is so much mis-information out there, and so many desperate loan officers trying to get business that will tell you anything, that I think it's worthwhile for you to have the truth...

I'm happy to answer any questions you may have.

C.

I have used Pat Nagler for a couple home loans and she has always come through. At least give her a shout -- if she can't do it, no one can!

PAT NAGLER
PRIME LENDING
"We make the dream of home ownership possible!"

Phone: ###-###-####
Website: www.patnagler.com
Cell Phone: ###-###-####
Fax: 866-908-4049

If you are putting down half of the purchase price then you should be able to qualify for a "normal" loan. Even with the bad credit you shouldn't get stuck with a high interest rate on your typical bad credit loans. I would check with a few places to compare fees/rates.

Contact Patty Farmer at Envoy Mortgage. She can help you navigate through all your options. Her number is ###-###-#### x228. Website is www.PattyDoesLoansFast.com

Best of luck and tell her M. Curtin sent you!

L. try Kristy Schryver at ###-###-####. She is an independent lender and may be able to help. If she can't help you try Julie Shrell at ###-###-#### or ____@____.com Tell them that S. Schierling sent you. I network with both these ladies and either one will do a great job for you. They both put their clients first and will tell you up front if they just don't have access to programs that can help you. Kristy is in the Frisco area and Julie is in Richardson/Dallas.

Call Jeff Schraeder with Cadence Lending, he can help you and is very good. His number is ###-###-####, hopw this info helps.

G.