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Very Poor Credit Loans How can I find a loan for very poor credit? Good question. If you are looking for a mortgage, I can be able to help. there is almost always someone to buy your paper, you just feel willing to participate would not be realistic. your loan to value may be low may have a lot of money there, there are many mortgage brokers who are not afraid. You have no way this kind of loan or how poor your credit. If your score is 500 or less, you can almost forget it, especially with a mortgage. If you have at least 550 (average score), you may be eligible for 90/10---loan is 90%, 10% will bring to the table. It is really not the Oyu credit score should be concerned about is the ability to pay the mortgage. "Cash" stores First, I would say WARNING! many "bad credit" borrowers getting ripped off and exploited. Depending on what you want the loan you should not have to pay money to apply. Not even for a house or a car, really. For a mortgage of a mortgage broker is the way forward. They work with many different lenders (banks) which means they have loans for everyone. Now there are loans that are not credit score driven. So just because you do not score or some impressive collections does not mean you should end up with a rate of 12 +%. ask questions and ask for references. also ask what their fees are. compare companies in this way. I hope this helps. The best place to look for are small independent mortgage brokers. Often, they have loans to bad credit situations. It is certainly more difficult to obtain these types of loans to all the questions surrounding the subprime loans now. You can also do a little Reasearch to know what kind of mortgage loan programs offered by government agencies like the FDA. In NC, we have the NC Finance Agency Revenue helps the weak and sometimes lower credit borrowers: http://www.nchfa.com/. See if your state has such programs as well. You can also look to rent to own options for your market. This is an excellent option when you can not get a loan from there to other sources. You will basiclly lease owner of a house without having to go through the loan process. You can mostly be for 2 years while you get your credit problems are supported and then buy the house of the current owner by more traditional methods. If you have bad credit, it is difficult to obtain loans from most banks and financial institutions. The credit is generally available only in a very high interest rate.Only few companies provide loans to poor credit score.Check out link for more details. Posted on February 20, 2010.
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