Hi Michael, all problems can be resolved however it depends on your overall situation. If you are in SE Qld then I am just a call away and am happy to discuss your available options once I have a clear understanding of your current situation. Please click onto my profile on Hashching and I will give you a call to start the process rolling. Regards Karen
Hello Michael, If you are in the Northern territory and need assistance with setting up a plan to get a home please feel free to contact me through my profile. Regards Nick
Hi Michael, as stated above by others, the market these days caters to all types of borrowers and situations. Good to see your making progress in getting yourself back on track. I am confident your request could be placed with an appropriate lender. The plan would be to set you up with a lender who understands and appreciates your current position and work with you as your history improves to ultimately move the loan on ensuring you are getting the best possible outcome now and over the longer term of the loan. Would be happy to assist you achieve your desired outcome. Cheers
G'day Mick. Well you can see how desperate some of these people are to get business. Firstly, there are only a couple of the major banks who utilise the DVA funding. They generally don't like people with bad credit. Next, I estimate that you take home about $900 per week. You car is probably costing $250 or more a week leaving you with $650. You pay $350 week in rent leaving $300 to live on, pay bills etc. If you purchase a home you will have extra expenses, and if you go with one of the lenders who thrive on people with bad credit, it is unlikely you would qualify for a low interest rate, meaning your home loans payments would probably be higher than what you currently pay in rent. My suggestion is to wait until you finish repaying the car, then work to save some sort of a deposit. That deposit, plus the DVA money, would probably get you into a home, Additionally, you bad credit history will likely be purged from your records by that time. I'd like to help you now, but I think it would likely be a rip off. Best of luck going forward.
Hi Mick, the only dumb question is the one that isn't asked! As most people have already said, the options available to you will depend on your deposit, the details of the bad credit history and your serviceability. Although many cases are similar, each application is unique so it is best to speak with us directly so that we can work through all of the factors surrounding your application to obtain some options for you. We have access to over 30 different lenders from the large banks to smaller, private funders so if there are options available to you, we should be able to find them! Please let me know if we can help further. Regards, Matt.
Hi Michael, There are a few lenders around that would be happy to gain your business. Please get in touch with me if you are in Melbourne. I do free credit checks and this allow me to find the best lender for your current situation. Regards, Daniel
Hi Michael, There are a few lenders out there who would be happy to help you even though you may have a default. Depends how big your defaults are and also servicing. You may be charged a higher interest rate. Contact me to find out more.
Hi Michael. I have a few Lenders who will help you, in spite of your credit problems. I have helped a lot of clients like you. So please contact me via phone or email & I will respond asap. I am doing a loan now for a lady with $42K unpaid judgments against her name. Look forward to hearing from you.
Hi Michael Thanks for your questions. There are no dumb questions when you are thinking of borrowing to buy a home. In your case the amount of savings you have will be important. Most lenders will require some savings and / or a gift for at least a 5% deposit. There are also lenders who will consider bad credit history. I would also have other questions before I could give you an answer to yours. I am in Brisbane if you would like to get in touch. Bernie
Hi Michael Thank you for your question To get a low-interest rate we would have to look at your bad credit, first Your income after tax, minus your car loan, minus minimum living expenses, minus any credit card, will equal to your maximum borrowing capacity I'm happy to do the calculations and explain what you have to do to get your place. I'm in WA you can contact me via the broker finder
Hi Michael, i need to know 2 things: A- how much money can you obtain from DVA and for what purpose? and if you need to pay it back on what terms and charges? B- the extent of your bad credit report, i.e how many defaults and for how much and when they where listed. i can obtain a new VEDA report for you to confirm the status as part of the loan application, but prior to lodgement insuring a successful outcome. call me or contact me to discuss further an application strategy.
Hi Michael, I have found myself in your position and obtained finance and I have helped many other people in a similar situation to you obtain finance also. Happy to have a chat with you at a time that suits you and discuss further. Depending on the level of bad credit history I'm confident I can find a loan to suit you.
HI Michael, no such thing as a dumb question..!! your main issue will be your credit history. IF you are borrowing above 80% of the property value then you will be extremely difficult to get a loan approved as the mortgage insurers will not accept anyone with bad credit history. There are companies that will lend to people with bad credit over the 80% threshold but you will pay for it with higher fees and interest rates. So apart from deposit the next issue will be income. The banks will assess the repayments at a rate of between 7.15 to 8.5 % and will need to work out after all your living costs, loans etc. if you will be able to afford the loan. (this includes allowance for dependents if any etc) If in doubt, organize to speak with a broker face to face and we can out what your options are. Regards Chris
Hi Michael, Thank you for your enquiry. There are a number of lenders that will look at loans with defaults, however in order to find a solution for you I would need more information. If you are in WA please contact me to discuss your options further. Regards Linda
Hi Michael, I am currently working with a client in a very similar situation, give me call. I will explain everything in simple easy to understand language and get you into your first house (at the cheapest possible rate too!) Regards Dom
Hi Michael, I help people like you with these types of issues all the time. I work closely to try and help get you the loan but also to prevent getting further credit issues in the future.Happy to go over some numbers with you over the phone. Regards, Jeremy Reynolds
Hi Michael - What deposit do you have to put towards the new home purchase? That can determine your servicing and then regards credit history : they look at if the debts were paid off (or being paid off) - how long ago - and the amounts. Rent being paid consistently is a good thing and can go towards the 5% genuine savings needed.
Hi Michael, It sounds like you are taking solid steps to get back on track. I am confident I will be able to find a home loan solution for you. If you would like to get in touch, I can get a little more information from you and provide you with some more detailed advice. Aaron
Hi Michael, there are a number of options available to you. We'll need to find out just how 'bad' the bad credit history is and whether it went as far as a default on your credit file etc. The state you live in may also contribute to what we can do for you. I'm in WA and if you are too then we can possibly look at a loan through Keystart. If not then there are still other options available to you. If you'd like, please get in contact and we can discuss your options. Cheers, Ian.
Hi Michael, I have helped many clients with bad credit so please get in touch. It's hard to say what a person's chances are without reviewing all of your particular information, but I am more than happy to take a look. Regards
LEZLI
Hi Michael, I just got someone with Part IX a good deal. So let me help you also. I have HEAPS of experience with credit impaired borrowers. Please contact me via my Profile page and we can discuss yours also. No fees - saving $1400 - special for this month only. Look forward to hearing from you. Thank you