Bad Credit Loans Based On Income

Stated Income Loans?? For the first time home buyers??

Has anyone heard of this type of loan? Good, bad, worth it? I was told that since it is based on your credit increased risk of its low and that is why interest rates are slightly higher than conventional loans? Anyone know anything about this??

Hello I am a real estate agent (see website below for free information) and here are some advice. Things are different now than a few months ago. A bit more strict. Here are some golden rules

1. if you have a FICO credit score 620 or more you can buy a house out there really .. 2. If you do not have a FICO of 620 or higher that want to ensure that no late payments in the last 12 months. If that is the case you still can buy.

3. If you do not have 1 or 2 above, then you need more documentation and paperwork. Begin to discover his traffic. Do that first.

You can find so cheap out online. If you know your FICO score is 620 or more you will have no problem. Also at this time is necessary to understand that is to ensure FHA loans up to $ 365,000 so if you buy something at that price or less its very easy and inexpensive to enter If you buy something like $ 400,000 or more thats FHA financing and you have to go conventional. That means more money down etc.

However, the good news is that I buy now. The market in my opinion, has bottomed out and even if you bought anything, (Try to find a low cost house in a good location) If the market goes up you make good money. Go to the site below and save to your fav You can search from anywhere in the U.S. free, see photos and prices for hours without charge and without time limit.

BAD CREDIT FHA LOANS