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Nitty-Gritty Mortgage Woes

Library staff member Eric Deatherage provided the following annotated Web site suggestions for persons with poor credit who are in search of fiixed-rate mortgages:

http://www.homeloans.va.gov/
VA home loan.  Not credit score driven.  Driven by credit history rather than credit score.  Certificate of eligibility required; the site explains how to get this certificate.  Zero down.  Debt to income ratio must be between 30 and 40%.

http://www.fha.gov/owner/loans.cfm#1
FHA home loan.  Fixed rate product.  Requires 3% down, but there are local donation programs that will cover that amount.  43% debt to income, including home, needed.

http://www.freddiemac.com/homepossible
Freddie Mac program.  Zero down.


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