I want to buy a home i have bad credit,and a small dowm payment how would i go abut buyine a home?
409361
A "bad credit score" is not necessarily all that "bad" for getting a house loan. HUD and FHA loans will give you a loan if you have the proper income and/or means to pay the loan, and their requirements are relatively low. With a score of 500 or more, you shouldn't have too many problems. \n\nAlso, to check what your score looks like, go to www.annualcreditreport.com and you can look at what your report looks like for free. You have the right to view all three of your reports once a year, more if you are declined credit. \n\nBest of luck to you!
579597
You can almost always get a home loan, no matter how low your score is.  The lower the score, however, the more expensive the loan will tend to be.\n\nHope this helps!
1069864
The best way to build credit is get a loan and pay it off. You could start by betting a store credit card. If your making payments to rent to own, then you have a line of credit with them and that should help.
1094018
STACY R  is wrong.very wrong. There are lots of bank out there that do mortgage for people with bad credit. First thing to do is run your credit find out all three scores. get rid of the high and low and use the middle score. You need to use W2s to show income. are you buying by yourself or is someone else coming on the mortgage with you?Down you have any money to put down? If you have any other questions please email and I will answer for you. Johng@oldmerchants.com
26741
If you don't have much of a credit background (I mean no credit as opposed to "bad" credit), a lender will look mostly at your earning power.  That is to say your current income, how long you have had your current job (at least 1 year), and how much of your current income is disposable (how much extra you have after your current bills).  Whatever you have left over is what you can afford for a house.  \n\nI have to say though, that without any real credit history, your chances of getting a loan are low.  Also, be very careful of those who are willing to lend you money, because it will probably be at much higher interest rates, making it all the more likely you won't be able to afford the payments.\n\nFocus on building good credit.  Once that is done, then you can start thinking about buying a home.
263999
I also had poor credit, but bought my first home last year.  I went through a broker, instead of just getting a real estate agent.  He was able to find a bank that would give me a "statement loan".  That is where I had the money, just not the credit.  They used my bank statements from the past year and seen that I had enough money to make house payments, and I was even able to get first time home buyer program, 0 money down, and the sellers paid the closing costs.  There are ways, but my best way was to go through a Broker, who was able to help me tremendously!
914362
Again, you'll need a large downpayment.  $55,000 on a $400,000 property is only 13% down.  You'll need AT LEAST 20% down (most likely more) with that kind of credit score.  Sorry, but you wouldn't even be able to buy a single unit with that kind of credit without a larger down-payment...
58731
First you have to re-establish your credit and save for a down payment. Read the site below to see how to get started.
1089932
Of course, this is exactly WHY you shouldn't allow yourself to GET bad credit.  It is extremely costly, because it forces you to lose out on good opportunities like this.  There's a very high likelihood that you WON'T be able to get credit anywhere.  \n\nHere's what I would consider.  Try some of the high risk credit card lenders.  See if you can get a home-equity line for your home.  You might also be able to depend on 'trade credit' for part of it (foods, etc.), but you'll still need enough to equip the place, and frankly, your choices are very limited due to your past record.  I hope you can find something.  Otherwise, you'll just have to wait 7 years until your credit clears up.\n\nBest of luck to you.
670725
There are lots of ways to buy a home with little or no downpayment.  Talk to a lender about 100% financing.  There are FHA programs where you only need 3% down and they have a great rate.  Your REALTOR can also write your purchase contract so that the Seller of the home will pay some or all of your closing costs which means even less money our of your pocket.  Good Luck!
836412
Well a few things first:\n1. What are you buying? (Home, car, etc.)\n2. Are you going to fill out a full, stated, or FICO (Credit) only app. (Full docs give a better rate, but you may not qualify. FICO only will be a few points higher.)\n3. For Homes, go to sites like:\nwww.expandmortgagecredit.com and look at the ratesheets (which are based off credit score, amount of loan, etc)\nOther Sites:\nwww.countrywide.com\nwww.wellsfargo.com\n\nwww.bankrate.com
840104
Two quick suggestions. First you should look for another job. It won't really matter if you own or rent; you will either loose your home and have bad credit or have an eviction on your record. As far as buying a home is concerned I would not unless I had 6-12 months emergency funds for mortgage, taxes, insurance, utilities, food, gas etc and you had another job lined up.
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.
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.
1070109
The first place to look is a mortgage broker. Many mortgage brokers have several programs to choose from including for people with bad credit. Also, pull a copy of all 3 credit reports. this will allow you to get a complete picture of your credit without taking a hit on your credit score. You can even take these with you to meet with the mortgage broker and then he or she will be able to provide more direction. You should know what you can afford before you go looking for a house. Plus don't be afraid to take a smaller investmetn than originally planned. Home ownership builds credit as long as payments are on time and consistent. This can lead to your dream home.
1024028
Ask you bank for a line of credit. The interest rate is cheaper than a credit card. Otherwise consolidate all your debt to give you a smaller monthly payment.
150905
My best advice would be to start by opening a new credit line.  Paying your bills on time and saving as much as you can.  Credit can be a bummer when it comes to buying a home.  Good luck!