Danielle asked:


My husband and I are looking to purchase our first home, however we both have very poor credit scores (and yes I know this is bad news) but we have found a home of which we would like to purchase. The home loan would be for about $120,000, I am currently a nurse and my husband is on disability and has been for the past 10 years! We are confident that we can afford a mortgage, but really don’t want to go through the whole credit repair bit because well quite frankly it would take forever and a day to do!!! I have searched high and low for a lender that does bad credit mortgages with no good results! Does anyone know a legitimate lender who would deal with us??? Before answering, yes I realize it is not wise to have bad credit and need to borrow, but we are at odds here so please no rude answers…

Thanks in advance
To “my take on it”–I didn’t ask for your opinion on if we could handle a mortgage payment or not! My question was rather simple in asking for bad credit lenders! Thanks for your answer, however I wish you would have actually read the question before answering!

Thanks everyone for your answers (the ones who answered the question that it:-)

kenzo1 asked:


The rent is 350 a month and they are 60 days behind on mortgage, its a really nice condo and good location and the rent is too low. I want to know why the rent is so cheap?

The Skizzanator asked:


I’m looking to buy a home. My credit score is 680, but I have no money to put down. What is the best loan option for me? A friend is buying a home and he says his rate is 1% and his mortgage increases by 1% per year. Not his interest rate, but his mortgage payment. That doesn’t sound right to me. Any advice?

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360SD asked:


Hi, I am planning to take a home mortage out and it is so confusing when you talk to different brokers , it almost seems that they get us in one way or the other like PMI, points, mortgage rate, even .25% would make a huge difference on the mortgage payment over the years. Can anybody suggest what things to look out when talking to a banker/broker. Please suggest some good sites or good banks to go to if you had any prior experiene. Thank you.

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Mike asked:


I am buying a house on May 29th and have taken out my mortgage from Alliance and Leicester. I was just wondering if anyone knew if I would be expected to make a payment right away on completion day as soon as i get the money or if it will be the month after in June?
I hope its the latter obviously!

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CeeEss asked:


I decided to set up office in my home rather than rent a space. I have a really small home <800 sq ' and use one of the 4 rooms as my office. Can I deduct part of my mortgage payment as business expense?

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Nid C asked:


My dad just recently seen a 20,000 increase to the house mortgage

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Jon H asked:


I have created a simple mortgage calculator which will work out the mortgage payments for a specific loan to value (5%, 10%, 15% down etc) and it will add mortgage insurance and calculate the income required. How do i add a formula which will work out the mortgage insurance for any down payment amount. i’m looking for something like :

if down payment is X then mortgage insurance is Y

in canada the mortgage insurance will change with longer amortization as well
thanks for any help

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It is what it is asked:


I am interested in purchasing a home and have a price range in mind. Can I get a loan for a home in my price range before I choose a specific house??
Thank you all so much for the helpful advice! I will definately try to get a loan first, I guess.

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Popeye asked:


I am closing on a house in the next week in Illinois. I am planning on spliting up my mortgage payment into a bi-monthly payment. Any ideas as to how long after closing before I have to make my first payment?

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