Is it possible to get a loan to buy a cheap home? I am a first time buyer and I’ve found this beautiful Condo which is priced at $65,000. I was wondering if it’s possible for me to get a loan on this home since it’s such a small amount? Please advise on my options, what I should look into get this home. Thanks!
Is It Possible To Get A Loan To Buy A Cheap Home?
December 31st, 2009 by Home Loans Leave a reply »
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Shop around locally for funding. Don’t even THINK of contacting the scam artists who post their spam here in response to your query though. You will be ripped off blind with advance fees and will NEVER see a dime of those back or a loan! No honest lender would ever spam a board like this looking for legitimate business. The ones who do are thieves and scoundrels who are out to RIP YOU OFF!
You’ve noticed that these are tough times. We just refinanced and today some brokers, banks and title companies are being tres careful with your credit worthiness and pride of ownership. Like they should have been a little while ago and lots of people might not have lost their homes…..The new mortgage company even (this is a first) even sent someone out to make sure we were really living in the place. With all the packing boxes and garbage waiting to be put away that she could see, she didn’t have any question about it.
Yes it is possible. It mostly depends on your gredit score and the type of loan your trying to get. and if the condo qualifies. Call your local real estate agent. He or she can get all of these questions for you in about 1 day or less.
How To Buy A House
If you put 20% down in cold, hard cash, I think you’ll find it easy to buy that beautiful condo.