Hi, i need some ideas on where to get a good home loan my credit is not all that great but its not horrible either. i have a good income, but i also don’t want to have to come up with a big down payment and closing cost can anyone help me… i have been looking around yet i don’t want to pull my credit to many time by applying every where cause it will drop my credit score.. so if u have got a home loan and had to put a very little down payment down and no closing can you please let me know where. Thank you so much!
You’ve addressed several issues in your question, so I’ll try to answer each one. I can say this in general. To get a good home loan, go with a company or mortgage professional you trust. Ask for referrals from family members, co-workers and friends. If they had a good experience, most likely you will too.
Now, to address your concerns:
Having less than perfect credit can limit your home loan options and may not qualify you for the lowest possible rates, but it shouldn’t prevent you from getting a home loan. Your mortgage professional will go over your options available to you.
And not having a big down payment shouldn’t be a problem either. Most likely you’ll have to pay private mortgage insurance (PMI) until you have enough equity in your home to not need it. Again, your mortgage person will explain the costs and numbers of PMI to you.
Having your credit pulled isn’t a problem unless you are doing it over a long period of time. If you shop around in a short period (a week or two) with different mortgage companies, that shouldn’t lower your score.
And regarding closing costs, again that is something that can be worked out. Sometimes the seller will pay them. There are other options available also, depending on your situation. Your mortgage professional will discuss all of these with you. I’ve included a link below that outlines all possilbe closing costs.
I hope this information helps. I’m quite sure that when you find a mortgage company you trust, you’ll be in good hands to get a home loan that fits your situation.