Posted by
Faith Floyd

Can I buy a home with bad credit?

Depends whats your definition of "Bad". If you are currently behind on bills then this may not be the best time to buy a home, but if you have had problems in the past and don't want to spend $$$$ to enhance your credit and get back on track. Give us a call or send us and email and let's see if we can get you back on track. God's Property Realty Faith 281-743-0243 Faith@godspropertyrealty.com www.godspropertyrealty.com

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Can I buy a home with bad credit?

By Faith Floyd   
Posted on Mar 31, 2015 in Topic: Home Buying
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Depends whats your definition of "Bad". If you are currently behind on bills then this may not be the best time to buy a home, but if you have had problems in the past and don't want to spend $$$$ to enhance your credit and get back on track. Give us a call or send us and email and let's see if we can get you back on track. God's Property Realty Faith 281-743-0243 Faith@godspropertyrealty.com www.godspropertyrealty.com
Status: Open
Viewed: 4453
Asked by: REALTORS®
Posted: 5 years ago
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Gold
David Rainey
about 5 years ago
Make sure your credit is in good working order If you're in the market for a mortgage, begin by visiting myFICO.com and getting your true credit score. If you and a partner or spouse want to buy a home, you may want to try to qualify for mortgage underwriting on just the income of the person who has a better score; most lenders will base your rate on the lower score if you're a couple. In addition to your credit score, you'll also want to pull a free copy of your credit reports at AnnualCreditReport.com. Make sure there are no surprise delinquencies eating up your credit. If there are, many times they'll be small piddling bills of a medical nature. Get those things paid off pronto before you apply for a mortgage.


Source:


myfico.com, AnnualCreditReport.com

about 5 years ago
Silver
Andrea Usanga
about 5 years ago
Well said, David! I have worked with a lender who specializes in helping those with credit scores between 580 and 620, but if you have judgments on your report, they definitely will require you to pay those off. Before embarking on the home-buying process, be sure to get with a REALTOR or someone who can help you determine your estimated monthly payments with taxes, homeowners insurance, and PMI. You definitely want to make sure that you can handle the monthly payments.


about 5 years ago
Bronze
Mary Shepherd
about 5 years ago
Sometimes you can. There is always owner financing from some sellers. They usually require at least 10 or 20% down though.


about 5 years ago
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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