An Ideal Way to Purchase Your New Home without Strict Banking Regulations
Posted by David Rolle'
No longer will bad or no credit stop you from getting your dream home. Non-banking programs want to help you get the funding you need. Also, there are several low money down options available for home buyers to fit almost any budget.
You've searched high and low around town looking for that
special home for you and your family. Everyone agrees that
"this is the one"! Your down payment for the home is large
enough, but you know your credit is terrible, or worse,
practically non-existent. It is a given that banks tend to lend
money to people who a) have enough cash that they don't
need a loan; b) possess good to very good credit. Another nightmare with having bad credit is the closing costs.
On conventional loans designed for individuals with credit
problems, closing costs can be considerably higher. The
higher interest rate will also cause the monthly payment to
increase. In addition, the percentage of the down payment needed
towards the real estate cost will also increase.
The required down payment for credit-impaired applicants
can easily be 10% to over 20% in some cases. Based on a $100,000 home, this could easily equal $10,000
to $20,000 in down payment towards the real estate cost-
not including closing costs. Some of you reading this might be thinking aloud, "Yeah,
that's just how the system is, right"? Not much can be done
about my bad credit. Although the "system" appears to be working against you,
you can still get the dream home you desire. Fortunately, there are little, but very effective techniques
being used by people to establish AAA credit, wipe out debts,
and proceed to get the house they want. All in the same time
period. A good idea would be to start with your credit. If you have
non-existent credit, you can apply for (and receive) credit cards
that will build up your credit score. These credit card companies
report to the major credit bureaus that you've been paying your
credit card bills each month. During this time, you can look for funding programs that would
be willing to listen to your situation. They want to help you obtain
the funding to purchase that new home you want. Such funding programs like to work with the seller exclusively,
(For Sale By Owner). No bank red tape or real estate agents
to turn you down for financing. It's just you, the funders, and
the seller. There are programs out there that can help you, but you must
be very careful when choosing one for you and your family.
Look for programs that are legal in all 50 states, have qualified
professionals in their field, and will offer you one-on-one
consultations. In conclusion, you and your family can still receive the American
Dream. Just taking these steps outlined above can get you there
quicker than you ever thought possible. David M. Rolle' is a Funding Program Franchise Owner.
I am on a personal mission to help provide financing
for those who can't obtain it through the banking system.
If you're interested in receiving information on funding,
and to claim your free special reports, visit this site now.
http://www.inyourhometoday.com This article is copyright (c) 2005 by David M. Rolle' and is
available for reprint in your ezine, website or ebook at
http://www.inyourhometoday.com
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