Bad Credit? Qualify Yourself For A Zero Down Mortgage Loan

Written by Nick Graziano

I decided to write this article today after closing a home purchase loan for a couple that had some major credit issues. They got intorepparttar house with ZERO down payment, and only had to bring $600 forrepparttar 113241 closing costs. Their situation was pretty bad, I’m talking about a bankruptcy 2 years ago, thousands of dollars in outstanding collections, charge-offs and debt to income ratio of 49%. Byrepparttar 113242 way, we left all of their outstanding charge-offs and collections open which means they didn’t have to pay any of them off! So many think they won't be able to qualify for a mortgage loan. Many will keep thinking they can't qualify until they read this article.

My name is Nick Graziano and I have been employed as a Loan Officer for 5 years. I have experience originating conventional mortgage loans as well as sub-prime (non-conventional) residential mortgage loans. Many ofrepparttar 113243 clients that I deal with have great credit (and know it) and have no problem getting a loan but then there are those with credit problems (and they know it too). The ones with great credit arerepparttar 113244 ones that are easy to close, getrepparttar 113245 best rates and all with minimal time involved onrepparttar 113246 part of myself.

But, this article is for those with credit problems, low income and those who cannot afford a down payment. I am going to show you how to qualify for a loan with ZERO down payment, andrepparttar 113247 only out of pocket expense will be less than $1,000 ( if any at all) to cover some ofrepparttar 113248 closing costs. This is just an example of one particular loan program that I use but there are numerous others out there. I picked this loan program because it allows 100% financing down to a 575 credit score

I see it on a daily basis.

Everyone wants to own a home and those with credit problems are calling every mortgage company inrepparttar 113249 phone book and applying on every mortgage website out there. (And there are many out there). Only to find out later that every time a mortgage company pulls their credit, their credit score dropped a few points, or thatrepparttar 113250 particular lender doesn’t originaterepparttar 113251 type of loan that you need. That is frustrating.

Step by Step

Here is where I show you how to qualify yourself for a zero down loan.

1.The first thing you need is your tri-merge credit score. I would be more that happy to suggest a few places onrepparttar 113252 internet that you could go to get your credit score but I don’t want this article to seem like an advertisement. So,repparttar 113253 best thing to do is to do a search on for terms like “free credit reports”, or “tri-merge credit report”. Just make sure that you end up pulling a “tri-merge” credit report on yourself. A tri-merged credit report pulls your credit profiles fromrepparttar 113254 3 major credit reporting companies and merges it into 1 report. The nice thing about pulling your credit yourself is that it will NOT affect your credit score. Bookmark this page while you go get a copy of your credit report and then come back to seerepparttar 113255 additional steps.

2.What is your credit score? Most mortgage lenders will userepparttar 113256 middle ofrepparttar 113257 three scores. Example: Your credit scores are 576, 525, 599. In this case you would userepparttar 113258 576 credit score since it is notrepparttar 113259 lowest score and it is notrepparttar 113260 highest.

3.Is your middle credit score at least 575? If so, congratulations and move on torepparttar 113261 next step. If your middle score is less than 575 you have some homework to do. You can either sign up with a credit repair company (“search for credit repair”) to try and remove some derogatory items on your credit which will raise your credit score OR you can try to acquire some credit to help re-establish your credit worthiness. The easiest way to re-establish your credit is by either getting a car loan or credit card designed to help re-establish your credit. Again search for “credit cards to re-establish credit”


Written by Sunnie Ford

What is so remarkable about "Reishi Coffee"? It's number one onrepparttar Yahoo search engine, that's what. What is "Reishi"? It'srepparttar 113240 Japanese word for "ganoderma" and "ganoderma" isrepparttar 113241 Latin name forrepparttar 113242 Red Mushroom. Why would anyone want mushrooms in coffee? Doesn't it taste yucky? Like mushrooms? Nope. This is a delicious coffee. And to find out more about "ganoderma" you can accessrepparttar 113243 information from this site: and once there put inrepparttar 113244 name, "ganoderma". You'll find this will bring up over 200 studies onrepparttar 113245 Red Mushroom and at least 40,000 pages. Ganoderma is atrepparttar 113246 heart of Chinese legends telling about a miraculous herb to bring health, longevity, energy, strength and more.

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