Choosing the Right Type of Loan

When looking for a new home, it is imperative to choose the best type of loan for you. Here at CREFCO, we offer a few different loan options, and can let you know which would fit you best. Based on your current credit score and annual income, our team of specialists can determine how much you can be pre-approved for. We make the entire process easy for you, from start to finish. First, you will speak with one of our trained Loan Officer Assistants, who will gather some basic information from you, as well as answer any questions you might have. After this quick phone call, we will have you speak with a Loan Agent, who will be able to let you know the amount we can get you pre-approved for. If for any reason you do not qualify for a loan today, we can let you know what will need to be done to get you in your new home as quickly as possible.  Our extensive list of Loan Officers aren’t just here to help you get a home loan, but they can also help you with any credit related issues as well. We will work with you until you are where you need to be to qualify. We focus on customer service here. Your Loan Officer will be available to you anytime throughout the day with a simple phone call. We don’t want you hesitate to reach out to us with any questions you might have throughout the process.  So what are you waiting for? Get started today!

 

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25 thoughts on “Choosing the Right Type of Loan

  1. I need to know what kind of loan to ask for. I need to get a loan to get my parents old dairy farm back up an running so I can increase my Herd of beef cows. Also have a boarding / Training facility on the property.Hay field need lime an fertilizer, roof on cow barn an fencing for existing beef cows.

    • Hey, Heather! Unfortunately, the USDA loan is for single family homes without income producing elements. Therefore, this loan would not be the one for you. You need more of a farm loan.

  2. CREFCO Adminstration
    What type of Agricultural is needed to purchase a working farm in Colorado, Elbert County. property does not have a home on it and would also need a mobile or modular home as well.
    Can you make any suggestions. Thank you, MFL

    • Sorry, Michael. The USDA program is not for anything that has income producing elements, so that would not be the right fit. You would need to find someone locally that handles farm loans. I am sorry, but at this time, I do not have any referrals for you in that arena.

  3. Going to look at a house, hopefully this weekend. If my boyfriend and I like it, hoping to buy it. Was wanting to know what kind of loan I should ask for?

    • I want like to know would I qualify for a loan for a house in country for As Is. Price asking cash sale is lower than what they offered, $36,000. I willing to put the land and house for collateral. What type loan would I qualify.

  4. My mid credit score is 660, my income is 78k, but my bank statements are a mess with overdraft fees largely due to paying 2 complete household bills in which I will no longer be doing in one week. Also the fact that I didn’t know that I would be trying to buy a home this soon. Thus, needing to get a 100% financing loan. Will my bank statements prevent me from getting a USDA loan?

    • The good thing about this program is that it is a government entitlement program and they actually still base their approvals off of good letters of explanation. I am going to have Jeremy contact you to go over this, Jamie.

  5. I need to get a loan to buy the house from my sister who do not want it any more. Will I be able to get a loan here to pay for the house.

  6. I found the perfect home and its approved for USDA Loans. Only thing is my credit is FAR from good, my income is $41k. What would be the best steps to take?

  7. I was wanting to know if we would have to have three credit history’s stating that we have paid out bills on time to be qualified for a home loan? We were approved for a one percent interest loan through people’s inc but they didn’t accept the third one of our credit history’s. Where we was on housing we didn’t have any bills in our name but a few.

  8. MY MOTHER PASSED A FEW YEARS AGO AND THE HOUSE WAS LEFT TOO ME IN A LIFE ESTATE WITH MY AUNT. BOTH OUR NAMES ARE ON THE DEED. SHE WANTS HERS OFF ASAP!

    SHE HAS NO DESIRE TO EVER RETURN TO INDIANA AND USE THE HOUSE. I NEED TO BUY HER OUT AND MAKE IT MY OWN.

    I AM MORE THAN WILLING TO USE THE PROPERTY AS COLLATERAL TO SECURE LOAN. MY CREDIT SCORE IS VERY LOW. I HAVE BEEN CONSDERING FILING BANKRUPTCY, BUT THAT IS REALLY NOT A GOOD OPTION FOR MY CURRENT SITUATION.

    CAN YOU HELP ME?

  9. My credit score is very low.Alot of things happened when i became a single mom.I have worked at my job for 15 years .I am a CNA will i be able to get a loan?I have an escrow account with money saved.Would this help me?

  10. I am currently looking to buy/ build. There is a new housing addition I’ve been looking at. My credit score as of now is 563 but I’m paying someone to fix it. What should my score be to qualify for this loan without having a high interest rate and a down payment?

    I’ve listed the website for the addition.

  11. I would like to know if I could qualifiy for a loan? My history as of now is I worked for 28 years, have since divorced and renting a home with my son. I am a full time student with a $1200. Income and the help of my son until I complete my education in February 2016. My credit score is 678.
    Thank you Pamela

  12. i just found a home it needs updating and some repairs. The asking price is 85,300. needs painting and floors in dining and kitchen needs to be redone. I will be offering the seller $70,000, reguesting a loan for 90,000 to do repairs before i move in. it is a ranch style home.

  13. My husband and I are trying to buy the home we are living in and renting now. We have been here 5 years, and have a perfect payment history with Century 21, which is who we rent from. My husband has made over 89,000.each year the last 3 years, however, he had 4 strokes over the last 3 years, and our credit is not great right now.we also have a perfect car payment history over the past 2 years also. We would qualify for first time home buyers, but I’m thinking his credit score is around 580. We have 3 children, so when he got sick, our credit went down the drain. Please let me know, or emailme, if you can help.

  14. My husband and I are trying to buy the home we are living in now. We have been here for 5 years. We have a perfect payment history with Century 21, which is who we rent from. We also have a perfect payment history with our car finance company for the last 2 years. My husband has made over 89,000 each year the past 3 years. He has been at his job for 15 years. He had 4 strokes over the past 2 years, and our credit went down the drain. We have 3 children. But with him getting sick, I think his credit score dropped to around 580. We really want to buy this house, I hope you can guide me in the right direction. I know we qualify for the first time home buyers.
    Thank you
    Stacy Cogdill

  15. Hey how r u ?
    I mean looking for housending, near to 33880 area code in winter haven Florida, but I don’t which area under USDA, so may I know where should I go for that …I liked one house but problem is that area not under USDA, so can I get loan still ??

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