Anyone know of a reputable institution for people with bad credit to get mortgage financing?

my fiance and i r trying to buy his late grandmothers property, it has been appraised at 160,000 and we want to borrow 180,000 so that we have some extra money for repairs and some extra to save for any unforseen needs. (water heater, furnace repairs etc.) we both filed bankruptcy 4 years ago.

Anyone know of a reputable institution for people with bad credit to get mortgage financing?

Well As a mortgage Banker You have just asked two completely different questions.

First there are several reputable lenders out there. How you have paid your bills since your Bankruptcy will be the deciding factor. But right now I don%26#039;t know of any companies that would be willing to take that risk. Currently the B/C Paper or Sub-Prime lenders are struggling to stay afloat. If the house is appraised at $160,000 odds are you will be hard pressed to find some one willing to give you a loan for more than the house is worth. 100% financing is out there and may even still be available.

Now I recommend If you want to do some work to the house that you make a list of the items that you want to do, new furnace..... Then look at a rehab loan or a re-habitate loan which is a lot like a construction loan or a remodel loan. I recommend going to your local Mortgage Banker.

Good luck

Anyone know of a reputable institution for people with bad credit to get mortgage financing?

Very unlikely unless you both have high incomes. It may be better to get a smaller loan and later get a home equity line of credit (HELOC). It%26#039;d be better to save up money for a down payment. Was the house sold during probate to split the value to the heirs?

Anyone know of a reputable institution for people with bad credit to get mortgage financing?

With what you described you may need to use other options to buy the property until you can work on your credit to get the best possible rates and loan. I would suggest that you begin to get help with your credit, go to www.genesiscreditgroup.com for help. In about 6 months you may be able to buy the property. I have seen this many times over the past 22 years that I have been in this business. I hope you find the help you need.

Anyone know of a reputable institution for people with bad credit to get mortgage financing?

Texas lending.com is a great company. They help alot of people get financed with bad credit and low scores. Also www.jcwilliamscreditservice.com can help you get your credit cleaned up.