Looking For A Refinance Company, Credit Is A 501
I have a property with balance of $65,153.00 + $6,000 in fees. The house is worth at least $75,000 My credit score is a 501 (working to improve that) and I have a steady job. My problem is my current company won't roll the $6,000 into my loan and this added payment to my monthly house payment is becoming impossible (spare me the stuff about quit eating out and cancel your cable service, already done) I'm willing to get a 40 year loan, I'm willing to do what ever it takes to get my payments around $600 a month with no prepayment penalty. My goal is to show my company that I can make 12 payments with out being late so we can refinance from there and bring my rate down, (which is currently 7.75% but assume it'll go up) The biggest problem is I need that $6000 rolled into my loan. Big story about how that $6000 came around but it has to do with being a dumb kid 3 years ago. Thank for the help guys. Leave me a PM if your a company that can help. I welcome anyones help to be posted here. thanks!!!!!!
You said it worth "at least" 75k. Have you had an appraisal done on the property? With that score, you'll probably be maxed out at 80LTV(more likely 75)which means you'll need value to come closer to 90k