Finding lenders w/ 45% down & 550 FICO

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Posted by Traci on May 09, 2008 at 23:00:42:

We are looking for a lender that would finance a piece of property with approximately 45% down payment. The property is $130k and we have $55k to put down from the sale of another property. We are self employed with a 550 credit score from past late pays on credit cards but never on mortgage, vehicles, etc. We need a quick turn around to close on this property so if anyone has suggestions, they would be greatly appreciated. What type of lenders should be look at? Would a hard money lender be a possibility? What interest rate should we be prepared for?

Thanks in advance...



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