Originally Posted by
Newtothisbutloveit
Thank you for replying, you guys are awesome for taking the time to do so.:sweet:
But frankly, these are not the answers I am looking for....:embarassed: (except for Mortgage Queen answer)
I think we did our share of suffering and making sacrifices and all.
I find it frustrating and unfair to see people with many late payments in their credit history or people having low incomes being able to have a house (sometimes with only 5% cashdown or even no cashdown at all) only because their credit history is free of the words bankruptcy or consumer proposal. And please do not think that I am saying that to be snotty or anything, I am not like that at all. I am just stating a situation which is annoying me a lot.
When we wanted to buy me a car (it was needed for me to be able to go drive my son to his kindergarden and then to go to work) we were still in the proposal and I went to 3 places, some told me I could forget it, others told me that I would have to give a big cashdown of 3000$-4000$ to be able to access a 6 years old/almost 100 000 km car :neutral:, another offered the same 29% interest rate that my husband was paying on the car he had for a car for me.
I had decided to abandon the idea and was driving a old car my dad was not using anymore asking myself everyday if it would make the winter. Until one day I found an ad on internet about being able to buy an almost brand new car with a reasonable interest rate. I called and the lady who work my file was a gem:sweet:. She made me pass through and proposed that my husband change his car too because his interest rate was terrible. She made us both pass at 10% with 2 one year old cars, both under 40 000 km. She fought hard and she succeded, she made the bank look more into our files and trust us and until now 2 years later we never prove them wrong! Until lately (she left the city working elsewhere in Quebec) I was referring people to her, she is amazing. 10% of interest is not the best rate and sure that she was working for her pocket too in that deal BUT still she fought hard to get us the best rate available and to give us the possibility to walk away with 2 good cars, and I will never be thankful enough for that.
That is what I am looking for. Someone who can "work" our file deeply, something we can do which can make us access our dream. I don't think I am daydreaming for asking such thing.
What I find more ridiculous and more frustrating is that we are paying more in renting than what we could be paying in morgage for many houses that we saw. How much of a proof do these banks need to understand that we can pay our dues?
I do understand that a cash fund is needed in case of emergencies 100% :top: and I do want to wait more to save some money for that but I find it disgusting that I have to save 20%-25% for the only reason of this word showing in my credit file.
I may sound sour and I am very sorry for that, really.:embarassed: On a daily basis I am sweet, sweet lady:angel: but this situation is having the best of me.... Totally unfair as I see it now......:( and I want to find a way to have a house before 5-6-10 years. I am resilient, I don't want to give up.
If you guys still want to answer,feel free to do so, I am listening and reading to all of your advices although some of them made me feel so discouraged :(, you know some tips? Know someone? Know a "gem" mortgage broker?, An "easier mortgage lender" bank or anything, feel free to post it.
Thanks :-)