Wake up! If you were the bank, would you lend yourself money? The reason you have poor credit and no down payment is because your not a financially responsible person. You need to work on that first, in time, you could rebuild your credit then try.

Fri May 9 2008, 09:25

Doreen,

I know of two positive options for you situation.

1. If you are a veteran (or if you're married and your spouse is a veteran) with V.A. benefit, you can still get 100% financing.

2. If not, then you can check into an FHA loan. FHA still allows Down Payment Assistance through programs like Genesis. Your realtor or mortgage professional will be able to bring you up to spped on these types of programs.

Please try and avoid "Hard Money Lenders" for your purchase. You may be able to qualify but the rates are not good and there can be some risky terms associated with these types of loans.

My best advice is to ask someone you trust (someone with great credit) who they would seek out for mortgage counseling if they were in your shoes.

Good Luck!

Tue May 6 2008, 13:07

We need to review your credit report Doreen. No cost , no obligation. Please e-mail me if you wish to get together

Tue May 6 2008, 12:54