As a single parent with three kids I feel no one will want to touch me because I am a risk. I would like a 3 or 4 brm house. I make 15-17 hourly, I recieve child support of 320 a mo I'll graduate next may. My credit score is 590. I've paid off two cars, pay bills on time and I still can't even get a credit card. How can I get a house? Or what are some good ways to prepare to buy a house.
210555
Find a reputible lender, often times someone you know at a bank or loan company and ask them about first-time home buyers assistance programs.  Many states and individual counties have programs that will approve you based on other criteria other than your credit scores.  Definately check it out and see if you qualify for any programs.  Best of Luck!
357125
It sounds like you are really ahead of the game being so dedicated in school and also owning your own home already at so young an age.  If you remember this and focus on what your long term goals are and what rewards will be reaped from your hard work, you will make it!  Can you try taking in a roomate to share your house?  That might help with bills.
8477
I can speak from experience here.  I do not have a very high score I think it is in the low 600's.  I think the main reason is that people are still able to get credit while having a score this low.  You may have to pay a higher interest rate but you can still get a car and a house.  I know I have a mortgage and I just refinanced for a slightly lower fixed rate at 4.5% interest.  I don't think that is too bad for someone with below average credit.  We all should care more about our credit. We just have champagne taste on a Boone's Farm budget.
166480
Yes there is..It's called wellfare help..sounds awful i know..but this is about supporting your 3 kids till things get better in your life..and it will..it's just going to take some time...trust me the wellfare office understands the struggles of single parents and by u going down there to apply for the things that u are having trouble to make ends with...they will help u...so long as u are 100 percent honest with them...Number one..if u don't have medical insurance to cover the kids...u will get it right away..since u are a family of 4.(not including this guy)and u make 40 thousand or less u can get it..including foodstamps..(just untill things get better).U can also apply for public housing..sure that sounds awful..but there are alot of places that are decent as hell and u wouldn't ever know that the landlord allows section 8 people.(section 8 means the landlord gets there rent period no questions ask cause the state pays him u pay him just a little maybe only 100 to 200 a month only set back is u are on a waiting list..but it goes quick in the spring time..u can also get help with heat the list is endless..all u need to show them is all the kids Social security numbers,yours as well..proof of paycheckstub from your job and copys of all your bills that u pay.like car insurance gas bill electric bill ect ect..u will be flabbergasted on all the areas that the wellfare dept can help u with...Remember this is your tax money that is helping u so why not make it work for your kids\nthere is also a place called the YWCA not YMCA(thats for men)they help with apartments furniture childcare ect ect..i know u ask for financial help here..instead of getting a check to cover your bills..all that i mention above they personaly pay your bills for u..if u ever want to talk more to me please feel free to contact me through my name...Good luck sweety u can do it..and get rid of the abusive so called boyfriend u don't need this right now..u and your kids come first and nothing else..PERIOD
598810
You first have to clear your bad credit. If you are low income, you don't live above your means. If you want a house, you must tighten your belt and save money, not spoil your credit. After your credit is fixed, call a broker...mortgage broker and they will give you more details after studying your situation. Also there are some grants to help in certain areas.But without a good credit, you won't be able to buy now. Call the credit burea and find out exactly what you problems are. Deal with them one at a time until you are finished. Good Luck. I know you can do it!
178622
Apply for a credit card. \n\nIf you get one, great. If you are declined, you may be able to obtain one by putting money down, usually about $100 or so. This is known as "securing" the credit card. You'll have a low credit limit.\n\nOnce you begin to charge purchases, make sure you can pay the balance in full since interest rates can be quite high. It's much easier if you don't use the card much each month! Your credit will improve the longer you keep your account open and pay at least the minimum each month.\n\nHope that helps :)\n\nAlso, obtain copies of your credit reports from each of the three credit bureaus. They're free once per year. Go to http://www.freecreditreport.com/
609150
This is a great question!!  First of all, I'm amazed at how people WITHOUT any experience in the mortgage lending industry are offering advice to people about one of the most important issues in their life!!!  I am the General Manager of a large Mortgage Company.  Please listen!!!!!!\n\n1st of all....Congratulations on realizing that real estate is where the security of your financial being is centered!!  There are MANY programs that allow you...even a college student...to purchase a home.  I'm going to make a few assumptions.  1) Your credit score is higher than 620 and you have no serious collections over a period of the last 12 months.  2)  You can provide proof that you've been employed for at least 2 years.  3)  You're a citizen of the US.  4)  Your credit card HIGH LIMIT on at least ONE of the cards is $1000 or higher.  (If it's not, ask them to increase it to at least $1000)\n\nContact any reputable mortgage BROKER and explain your situation.  Typically, it's a broker than also has the ability to do FHA loans, though you don't HAVE to get an FHA loan.  They are monitored by the government to a greater degree and MUST be reputable!  There are MANY programs that offer 100% financing to you...that means, you will only have to pay the closing costs for the loan AND if you ask your real estate agent to locate homes where the owner is willing to provide SELLER CONCESSIONS, the seller can even pay the closing costs FOR YOU!!  MANY MANY sellers are willing to do this since it helps sell the home faster!  \n\nIF you can get a business license for ANY job or home based business through your city or county, no matter if you actually do any business through that company or not, and if you can show that you've had that business license for at least 2 years...sometimes a little less...you CAN QUALIFY FOR A "STATED" LOAN.  This is a loan that simply lets your credit score do the talking for you.  The lender assumes that you have a reasonable income (which you will "state" to them...whether it is true or not) and you don't have to provide proof of it!!  In the industry it is called a Liar's Loan.  A cute moniker that does not mean the loan won't be done.  Lenders understand that it is simply a tool that homeowners use when they can't prove their income.  The weigh the credit score and history against the risk of the overall loan amount.  Assuming your credit score is greater than 620...and it probably is much higher than that, you'll be fine.  The lender may need to see that you have 3 - 6 months worth of mortgage payments in the bank, so you're $7K will come in handy.  This is the only income verifcation they will do.\n\nInterest rates for this loan are a little higher, but not by much.  However, you can expect the overall rate to be higher than normal simply due to the low loan amount.  Any loan smaller than $100K incurs a higher interest rate.  It wouldn't be unusual for you to pay as much as 8 - 10%.  However, as scary as that sounds, keep in mind that the loan amount is VERY small (relatively) and the payments are stretched over 30 years, so the impact of a high rate on a small loan amount is negligible (comparatively).\n\nAs an example.  \n$40,000 @ 7% = $266 pmt (principle & interest)\n$40,000 @ 8% = $293 pmt\n$40,000 @ 9% = $322 pmt\n\n$30 per 1% is negligible!!\n\nIf you don't have a business license or don't want to wait that long, consider getting a co-borrower, like another party....mom, dad, sister, friend, etc.  With both of your incomes, you'll more than qualify for a standard, Fully Documented loan (Full Doc) where you have to prove your income with W-2's, etc.  After the loan is completed and closed, the other party can sign a QUIT CLAIM DEED at a title company and remove themselves from the title of the property.  They will still be a responsible party for the loan itself, but not have any rights to the property.  After 1 -
35594
If you have no credit, its almost like having bad credit. Nobody will want to finance you because you have no history. Your best bet would be to go for a HUD home. They will build a home for you or give you a standing home in good condition and they will work out a payment that meets your budget. It was designed for people in simaler postitions. There is also Section 8 houseing that you can look into. There are probably waiting lists for them. Other than that you could get a realitor to point you in the right direction.
211250
Find out exactly what your credit scores are from all three bureaus and exactly what is on them, both good and bad.\n\nIf your score is above 580, you have a good chance of getting approved with no money down.\n\nIf you have at least 3 tradelines (bills showing up on your credit report) that you pay, on time, every month for at least a year, you stand an even better chance.\n\nIf you don't make enough money to qualify on your own, your friend will also have to be on the loan.  The lender will usually use the score of whoever makes the most money.  If your friend has credit issues too, they will need to be taken care of just like yours.\n\nTalk to a mortgage loan officer you trust.  Talk to several.  If you're in Ohio, talk to me, I'd be glad to help.\n\nA good loan officer will tell you what things you need to do to qualify and will guide you through the process.\n\nGood luck,\n\nLeah
235595
Most people think they can't get a home loan due to low credit scores. I specialize in home loans for people with bad or poor credit. The best way to look at things is to ask yourself how much you can afford monthly for your mortgage. IM me and I can get you started if you like.
443523
I think it's good that you don't have a credit card.  I don't have one either.  It helps you to avoid credit-card debt if you don't have one.\n\nHowever, in the future if you want to take out a loan for, say, a house, you might want to have some evidence that you are a good credit risk.  You can establish credit with your cell-phone bill, I believe, but a credit card is another good way.  If you want to do this, get a card that doesn't charge interest for a period of time, use the card for something simple and pay it off every month.  That way you will be helping your credit but you won't be incurring credit-card debt.\n\nThere are many, many credit cards that would be happy to issue you one, even though you are a college student.  Perhaps you should start by talking to your financial institution.
270523
Wow, some interesting responses. \n\nHome mortgages are complicated, it is sometimes easier to buy a house than a $2,000 car on credit. \n\nFirst you need to realize that in order to buy a home with a mortgage loan there are really two approvals that need to take place, 1. Your Personal Financial Picture 2. The Property. There are many lenders that will give you an approval based upon just a few minute talk on the phone... but truthfully that is not an approval, but a pre-qualification. It means nothing without aplying that info to a peticular loan and that also means finding a property. \n\nThere are many loan options out there that allow little or no downpayment to be made. FHA loans do allow a small down payment amount of just under 3%, but FHA limits are going to be lower than 700,000 unless you live in a REALLY expensive area, and even then I doubt they would go that high (FHA Limits are different from county to county nationwide, though usually less than $300,000 unless it is a multi family home.) FHA loans do allow gifts from Non-profit groups, family members etc to pay the downpayment. But that is really the exception, not to say it is the only loan option available there are still others. \n\nBut getting 100% loan is often much easier. There are many ways to do that and they don't all cost an arm and a leg. \nYou can find a 1 loan 100%, 2 loans 80% plus 20% (this allows you not to pay mortgage insurance). There are however other loans that don't ask where you got your down payment and companies willing to give you that money to help you close (all to receive a fee from the seller for doing it) Contact me and I can help you.\n\nBest of luck to you!
24803
Actually, you are already on your way. Simply being aware of the importance of good credit - and then making a plan to maintain your credit is a big step. \n\nThe first thing you need to do is get a recent copy of your credit report. Go to one of the major credit bureaus (www.equifax.com, www.transunion.com, or www.experian.com) and buy a report WITH scores. If you've recently been turned down for credit you can request one (in writing) from each of the bureaus for free. You goal is to get your score above 700. If you have any loans - you must get those current. Do this BEFORE you pay any accounts in collections (if you have those). You'll also want to get up to three credit cards with balances of at least $300. Use the cards once per month to buy something small - and if you need to, give the cards to your parents so you won't spend on them. Keep a very small balance (not zero) on the cards. \n\nDo this and you'll be in great shape within 12 months.\n\nBe well.
113923
I was 20 and my low life ex left me with 2 baby girls.  It was very hard, now they are 13 and 14.  It is ever harder! But i have a great husband that helps me with everything.  Please learn from my mistake and wrap your life around your child.  Don't became wrapped up in looking for Mr.Right.  I was so focused on finding a father for them that I went from relationship to relationship and now they have a lot of bad feelings because I put them through it too.  Also, go to college.  There are MANY places that will help a single mother. They will even pay for your childcare while you go to school Take advantage them.  You just can't raise a child anymore on $5.00 or 6.00/hr.  That way you wont have to depend on anyone else. When have a degree and a good job then the right person will come along and you will be so secure that you wont have to depend on him.  I commend you on leaving your abuse relationship.  Remember God loves you and you deserve to be treated with respect and love.  If a man hits you one time, it is one time too many. You did the right thing!! Your going to be ok.  You will be a strong, independent mother and you baby will love you for that.  Just remember it's all up to you now, that baby's future is in your hands : ) Take care and good luck!
290552
I would love to tell you that everything will be alright. But you are in a very tuff situation. It sounds like the pinnacle of either some hard times or poor choices are catching up to you. The first thing is look to a mortgage loan BROKER, not a bank.. A broker is going to work with a greater number of banks and lenders that will be able to offer you a mortgage if there is one available to you. There are loans out there up to 125% of your homes value that can be utilized in a refinance. However loans that high are often offered only to good credit high FICO score borrowers. IF you have not had a lot of lates since the Bankruptcy you might be in luck, however if you have had lates since.. you are really not in a good position to refinance. Antoher option is somehting called a "Short Sale" this is an option that you may know about from all the mailers you are getting from real estate agents and or investors that saw your home listed in forclosure... It is where you find a seller to your home, and the offer is presented to the lender (your real estate agent can do this) and the lender agrees to "forgive" the loan to whatever amount and sell the home for less than you currently owe.\n\nLet me tell you as someone in finance and mortgages this is one of the best options to you. Whatever the situation and however you got there, you want to walk away in the best situation you can. You bought a home once, and can again but don't let it go all the way to forclosure waiting for something magical to happen because it usually does not.. Sel it using a short sale and walk away from it without a forclosure.. It does not sound like you have any equity to lose and if you walk away without a forclosure on your credit and without the debt of mortgage balance on a home you longer own you will be in a better spot.\nOnce that is done you and your husband can focus on getting back on your feet. Best of luck to you!
285400
Talk to a local mortgage broker.  Sit down and go over your credit report.  They will be able to tell you what you can do to get your score up.  Sometimes its better to spend money on your credit instead of the down payment.  Sometimes its the other way around.  Sometimes there's another solution like putting someone else on the application with you.  \n\nIn general you should keep your open credit cards on-time and pay them down to half of their credit limit.  If you have extra cash payoff any collections you have from the last year or two.  \n\nOpen up your yellowpages and look under "mortgages".  Find a local phone number or an adress you're familiar with and go to town.
457977
Contact 3 banks in your area. Ask friends/family who they have went through and trusted.  Now call the 3 and tell them you are in a market for a home and they will prequalify you for the amount your budget can handle.\n\nNext ask your friends/family for a good Realtor. Don't just open a book and call one, get some great referrals for a hardworking, knowledable-honest one.\n\nRemember a good banker/Realtor will let you know of the fabulous programs out there , (first time home buyer etc). There are many programs out there !\n\nGood luck and enjoy the journey in finding your home. Remember it is stressful finding a home. Oh one last thing, make sure you get a home that will appreciate in value. You want to buy a home that will go up in value not stay the same or go down. A good Realtor will help you with the best appreciating areas of homes.