Need Help Finding A Lender!!!
I have recently cleared up all debt and was trying to find a lender to do a 100% financing. I have my Va certificate also. I've applied with 4 different lenders and either their rates were outrageous or they told me that they could not do it based on my past credit history. I'm in Cary, NC. CAN ANYONE HELP ME??
I suggest going to www.lendingtree.com
Brandon2002, I went through them first. Concord gave me and offer of 9.25% 100% financing. @9.25 even if I did refinance in a year look at how much more the debt would be. I was looking for something a little more reasonable. Even on ****Must Reach Freshman Investor status before posting URL's*** they quoted my rate should be at the most like 8.25%.
I tried lendingtree on a car loan once, and what I was offered was much higher than what my local bank offered me.
I would recommend starting some credit repair strategies to get that FICO score up, if you have the time and the stomach for it. Check www.creditboards.com, www.creditinfocenter.com, www.creditnet.com .
I agree with flacorps- start repairing your score immediately. The websites listed are all full of great info.
Actually, getting 9.25% for 100% financing is pretty good if your credit score is below 600.
One thing that may have hampered your ability to borrow right now is the fact that you used lendingtree. Every lender that was interested probably ran your credit, which could drop your score considerably, depending on how many actually pulled it. On top of that, mulitple pulls for the same type loan, create a "too many queries" tag, which lowers your score yet again, AND makes lenders leary has well.
Roger
have you obtained letters stating that your debt has been cleared and have you asked for a rescore of your credit based upon this new information? Reporting agencies drag their feet so you may have to help them along.
I'm in the process now or sending letters to the credit agency's showing all debts have been paid.