You don't need credit bo buy a home

This blog post will tell you about a program where there is no credit check with a large down payment. 

Bold statement right? But it is all true. You don't need credit ot purchase a home. So you went bankrupt a year or two ago and you are finding it difficult to purchase a home and you are about to loose it because no lender wants you take a risk on you. You have cash in the bank and you make a good salary. 

Several options for you:

• Pay all cash for a home. Yes, there are some who can do that. If you have cash it isn't an issue many times.
• Pay a large down payment. If that isn't an issue you can put up more money down. This is actually what I wanted to talk about so lets do it. CAL-Vet financing is an amazing loan program. yes, it is at a higher rate. It is likely about 6% when everyone else is under 4% but if you have 30% down payment there is no credit check.  So, you find a home and put 30% down and you can finance the balance. Sorry, I'm not aware of any renovation lending with them.

If you have recovered from your earning dilemma after a BK then you may want to consider this option.

CAL-VET

Cal-Vet used to lend to you if you were a California resident at the time of joining the service. They had so much money available that years ago they expanded it to any Veteran who lives in CA. Say your client is moving from somewhere else to  CA and they have a good down payment but a glitch in their credit... CAL-VET loan may be an option to consider.

I used to be a Cal-Vet appraiser and their criteria is very similar to FHA for the home. It should pass the "health and safety" tests and MPS like FHA. I remember years ago my boss at CAL-VET called me about a home in Crockett CA across from the "Dead Fish" restaurant. When he described it I told him we can't lend on that house as there are High Tension towers too close and certainly within the fall distance of the home. He told me "thank goodness" then went on to tell me that another CAL-VET appraiser had caused them to lend on that home as he failed to tell them about the HT towers being so close. He was glad to see that it was only that one appraiser's misunderstanding or lack of understanding of that guideline and not a general problem with all of his appraisers.