what is the best way to buy a house with little to no maybe even bad credit?
466658
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
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.
826921
If you have absolutely no credit. "ZERO" credit scores, I can get you 100% financing using utility, cell phone, cable or other non-reporting bills as alternate credit. 2 year job history is all that's needed and must be an owner occupied home. Hope this helps! www.TheLoanPro.com
623420
Your best bet is to visit a local mortgage broker.  If your credit is shaky they have more options.  If your credit is great, they will compete as much as they can with your local bank on rate and fees.  \n\nCheck out my new blog on mortgage brokers:  http://explaintome.blogspot.com
54604
Your credit score isn't all that bad considering the national averages.\n\nHowever, you have some other options besides outright purchasing a home for sale:\n\n1. Lease Option or Rent-to-Own: Look for these advertised in the classifieds, that allow you to rent a house for a certain term (like 1 to 3 years), where some or all of your rent goes toward the purchase price. Then, when you're ready (you should repair your credit during this time), you can purchase the house. Part of your down payment will already have been paid.\n\n2. Talk to the Fair Housing Administration (FHA - http://www.fha.gov) about HUD loans for low-income and not-so-good-credit individuals.\n\n3. Look into purchasing a foreclosed home at an auction.\n\n4. Ask a close friend or family member with good credit to co-sign your mortgage.\n\n5. See if anyone is advertising "seller financing" or "owner financing", in which the seller will allow you to make mortgage payments directly to them.\n\n-----------------\nUpdate: DO NOT apply for an interest-only loan. You will be severely hit with a balloon payment down the line, or higher payments, or at the very least you'll have to refinance and pay additional closing costs. Interest rates are rising, and you won't want to do that. Stay away from these!
335121
WOW you packed a lot into this question!\n\n1. Real Estate investment in a primary residence is typically a good idea.\n2. You say you have okay credit.  Does that mean you owe a lot or you have some derogatory credit on your profile?  This would affect your ability to qualify for a loan from both a debt ratio situation or challenged credit issue.\n3. A rent to own, lease option, or contract of sale it typically a good way to go if your credit is questionable as you may not be able to obtain traditional financing.  You would need to find a seller willing to cooperate with this type of financing.\n4. If you buy outright a Realtor is always recommended.  There is no cost to the buyer.  The seller bears the burden of all costs incurred.\n5. If you use a Realtor they can assist you in finding a source for financing.  Generally that would be a loan officer the Realtor has an existing relationship with that can cater to your individual needs.\n6. Lastly you say you are starting a new job.  Typically a lender is looking for 2 years in the same line of work with your new earnings similar to your past earnings.  If your new job is a significant increase in pay, the lender will evaluate your ability to secure employment for the same earnings should you lose your new position\n\nI know how overwhelming all this can seem to someone who is unaware of how the process works.  Don't be discouraged.  You may contact me if you need further help and if I know the answers I'd be happy to share my knowledge.  \n\nGood Luck!
135090
Call Countrywide Mortgage - they have aggressive programs for credit challenged. You'll be surprised.
907399
you may have to go to a sub prime lender and pay a slightly higher interest rate.\n\ni would visit a mortgage broker, sit and go through it with them, they will recognise the best deal for you.
484349
If your husband has a steady job and your previous credit is fairly good, then you might want to try one of the credit companies like Capitol One for instance or HBC.  The interest rates are huge but they can usually find a way to put all the different debts together and spread it out over 25 more years to keep the payments low.  This was an option I took a a number of years ago during a renovation that went bad. Hopefully you can sell the house when completed if the amount you sell the house for is more than the debt and start fresh, getting rid of the high interest debt. It sucks to sell what you have worked so hard for but it is just a house.  The credit companies will sometimes let you pay the total debt without penalty if you sell the home and then you haven't paid much high interest anyways.  I understand the devastation and hopelessness of being in what seems to feel like an out of control situation.  You have to believe that life can get better just as quick as it went wrong.  If your only option is bankruptcy, so be it,  do what you have to do to make a stable home for your kids.  Just take control of the situation, get a few opinions and start sleeping again.  Banks run like sissies when you need help yet they are the first in line to bankrupt you in the first place.  There are reputable companies around to help people like yourselves in this tight spot.
704519
Call a mortgage broker, tell them you think you want to buy a house. They'll pull your credit report, and if you need advice on how to make it better, they're usually competent to give it to you.
173995
you can repair your credit yourself.  The best way is to pay off creditors.  You can offer a settlement for half or less which in many cases they will accept.  Make sure you get every thing in writing before you send money and only pay them off if they delete the credit completely.  If they do not agree then don't pay them and tell them so.  You need at least a 550 credit rating to buy a car 700 or better to buy a house or a motorcycle.
73127
You can buy a home with as little as $500. Negotiate with the seller to pay closing costs. USDA, Fannie Mae and Freddie Mac all offer loans with 0% down payment. A lot will have to do with your credit. USDA allows for minor credit problems. Talk to your friends and co-workers to find a referral for a good lender. If you want to buy in Ohio, I can be your lender. :-)
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.
289212
Through my experience it has always benefited me more to buy from a private sale that way you don't have monthly payments to make. I have found several good deals through private sales so I suggest that as something you should consider. However if you have bad credit and a good and steady job history I recommend talking to someone at JDByrider or a place similar to them. They help you reestablish your credit and there payments/down payments aren't to high.
699754
Home Inspection by an independent inspector (not one associated with the real estate agents involved).\n\nGet pre-approval for your loan.  Only buy a house that will amount to payments of no more than 33% (less if possible) of your monthly income (Don't get an interest-only loan).\n\nTake a look around awhile before buying.  Don't jump on the first house.  Think about it a couple of days.  Make an offer that you feel comfortable with.  Don't go over your head.\n\nExpect to have to purchase all the little things that you don't need when you rent, if it's your first house (Lawn mower, trimmer, water hose, landscape plants, curtains, basic household tools, etc.)
1093931
it all depends on your credit package and the loan terms you want. The better the rates/pricing, the tougher the lending guidelines. Find a creative loan broker. \nWorld savings has easy guidlines, but very particular about the value/home condition.
479143
Yes, it depends on how long ago, but if you have other good factors (good rental payment history never paid more than 30 days late) & good payment history on your credit you should be able to get a home loan. Depending on your job stability, income, etc. also will play a role.  Depending on how the whole credit history looks you may still be able to get a zero down mortgage, or worst case may need to put a down payment.  Also, if your credit is better try to do it in just your name, if you dont make enough income perhaps you can do a no-qualifing loan.