how good does a persons credit have to be to get a FHA loan for a home?
367773
The higher the credit score is....the lower the interest\n\nLower the credit score ........higher the interest goes.\n\nI think the most important is that you have enough money to put down first, have at least 10% and you can get a loan with most anybody!
760672
The state will not give you Section 8 to pay towards a mortgage.  It is only meant to help those, who have low income to rent a place to stay.  If your credit is not that good either, it would be worth getting a house.  You will have interest rate that is ridiculous, and honestly it would be hard to find a bank that will finance that.  There are many government programs for first time home buyers. You should go to www.hud.gov, and there may be a program that you can qualify for.
725338
Applying for a home loan isn't the problem. You can apply and get accepted rather easily.  The problem you will face is the interest rate.  The worse off your credit, the higher the interest rate.  Check around and don't take the first place that accepts you.
474177
Interest rates very by company.\n\nYou say A+ credit, but one companies A+ may be another companies A.  DTI (Debt to Income) ratio will also factor in the interest rate that you can get, the higher DTI the higher the interest rate.  Also residual income will play a factor, the lower the residual the higher the interest rate.\n\nThe fact that you are getting a loan for a second home and it will be 100% financed will also raise the interest rate.\n\nI can't tell you what your rate will be, but I suspect it will be higher that you think it should be.
90159
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.
541848
There are indeed ways to by a house even with poor credit.  The powers that be do understand that people have to live somewhere and pay, so they do loan people money.  Nowadays, one can even find homes to buy with very little or nothing down.  Usually the penalty for bad credit is higher interest rates though.
1070480
That isn't going to be easy.  Most places do a credit check.  There are ways with good credit to buy with no money down.  An individual might sell you real estate that way, but it isn't a wise way to do business.
828921
That has nothing to do with moving or a new job and everything to do with your credit score, check it out, you want to be above 700, the higher your score, the easier it will be for.you. You are entitled to one free per year, If it's not good, you need to work on getting that cleaned up, before you think about buying a home. Good luck.
665626
Very fast.  Only a few months of good credit payment and your score will go up.  Even faster if you have a mortgage.
245224
If you have the money, it is easy. But if not and you will ask for a loan, it will be hard and you may not be able to get the best terms of the loan. You will have little to no credit history, and that is always an impediment.
908646
Some credit is available to people with bad credit experience.\n\ngood luck !
645965
Depending on how much your credit "sucks" and the state that you live in, would determine if you can purchase a home. However, I would start checking on FHA or state bond programs to get financing for your house. Research on your own, because most Realtors don't like them, because there is a lot of paperwork. Mortgage brokers don't like them because they can't make as much money on them. Go to your state website and look for the housing department. Most states have them, you just have to look. If you have any questions, feel free to contact me directly.
329180
depends on your credit score and how many revolving credit accounts you have... my credit just shot through the roof thanks to the new house I just bought. I had no credit and got approved for a brand new house, so if you do have good credit then i'd assume you could get the loan
1153442
Call a local mortgage broker (check your local yellow pages) and ask for a consultation, they are usually free or may charge a small fee (< $25)  for pulling your credit report..  Do not call a bank.  Mortgage brokers have many more programs available than banks and are more experienced in dealing with folks with troubled credit.  Anyway, they can pull up your credit and see how it looks.  It may not be as bad as you think.  If it is, there are programs such as FHA that are not credit score driven.  It always helps to have money saved up for a down payment, and while 100% loans can be obtained, you will most likely need a minimum of 3% down.  If you do not have the 3%, it can be in the form of a gift from family or friends.  There are 3rd party non-profit companies that you can get the donwpayment from, although FHA has been looking down on them lately.  Mainly b/c the 3% gets financed back into the loan....sort of...but I can't say that...LOL\n\nA good mortgage broker will have all of this information.  He/she should also be able to direct you on what to do if your credit needs a little repair.  If you are not ready to buy now, they can coach on what to do to be ready in 6 months or so.  Good luck with your dream of owning a home.
655987
Yes it can. Lenders look at your credit report very carefully and a good one puts you on their good side. Having a decent income is another plus in combination with the credit report.\n\nYou will still need to shop around, find the best rate and programs, go to lendingtree.com for more information.\n\nFor information on buying a home and getting a mortgage, if this is new to you, I suggest you see Suze Orman's books, she discusses the process and gives good tips.
1107958
Concentrate on the credit you will need to pay off.  Especially if you are trying to get a house.  It will be helpful if your credit score is at least 600 or higher.  Hope this help?\n\nLC
865027
"bad" credit just means that a person won't be able to qualify for the good deals that are widely available for the bulk of the customers.  for a housing market, i think that "bad" has to be on the level of very recent defaults on loans and bankrupcy.