i have offered 100% financing with a 650 credit score but the buyer has asked would I "hold a seller's second mortgage."

As of right now, my credit score is 550 and do not have a lot of cash to put down on my first property.

I'm thinking about doing a lease option with this person, and trying to help him improve his score.

sorry if these sound like stupid questions theres a whole lot to learn and I would never jump into something without learning all that I can first, I learned the hard way about jumping right into something without learning the game first. i have the credit scores to prove it :cry:

The results were so incredibly successful we have made this is a permanent part of both sites.Both websites offered a free online training course.

next question, if i'm having issues with low credit scores (585) and currently working on repairing all that so conventional mortgage is not much of an option and someone were to do an HML, buy and repair the house and offer it as a lease w/purchase 6mo-1yr later for 10k over what they have invested home+repairs does it sound like it would be a win-win situation?

You sound like you have an exciting venture going and I wish you only the best.This opportunity sounds incredible; so incredible only one thing comes to mind...

With your score you should have no problems finding financing on these.Another alternative would be to use 100% financing (of just the purchase price) through a conventional lender.

I need a construction loan for the following senanaro:Construction loan for both land & constructionCustomer middle credit score = 763Customer already owns a pimary house for over 2 yearsCustomer house i sloated 50 miles away from the new residenceCustomer wants to roll mortgage for construction period into loanConstruction time frame 8-10 monthsLot cost = 30KConstruction cost = 130KCustomer wants to go stated asset stated income if possibleCusotmers gross yarly salary = 50KEstimated value of new property after construction 300kmortage currentPlease contact if you have a loan program that would work.

I have to admit that some of the business cards I've gotten from other REI do not look incredible professional.