CORI LLC uses a simple 4 step process for all Columbus OH Home Mortgage Loans with bad credit
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The home mortgage loans with bad credit program that CORI LLC uses, is a simple 4 step process, when CORI LLC is selling a Columbus OH home. ( click here for process ). We help Columbus home buyers like you,that for whatever reason can’t get traditional bank or lender financing. With CORI LLC instead of the buyer using the “rent to own homes” strategy to buy a house. Where the tenant/buyer has only tenant rights, with no ownership rights, until the tenant/buyer actually closes on escrow. CORI LLC uses a note and mortgage, which gives all owner rights to you the home buyer. Think of CORI LLC as the bank. We use the same documents as what the traditional Columbus OH mortgage loan type’s use, they are called a note and mortgage.
What requirements are needed for the Columbus OH home mortgage loans with bad credit
CORI LLC under writes or looks at every home buyer applicant much like all the other Columbus OH mortgage loan type’s. CORI LLC does not have a board of directors or shareholders to make happy. So we have the ability to make home mortgages based on the individual home buyer’s ability to repay the note; not just a number and a past history report. The minimum credit score that our investors work with is a 580 beacon score. We use the website https://www.creditchecktotal.com/ and ask all home buyer applicant to pull all 3 scores, print them out, and bring them on the first home buyers consultation with their Realtor.
All of the Columbus OH home mortgage loans with bad credit do require a deposit or skin in the game. The down payment amount required, depends on several factors in the credit report, job history and the house that is being purchased, much like most Columbus OH mortgage loan type’s . It is different for every home buyer but the range is 10% to 20% of the price for the house being purchased.
There is also a twenty four month job history requirement. This means that all home mortgage loans with bad credit applicant’s must be employed in the same field or type of work for at least twenty four months without a break in employment.
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