How to buy a home with bad credit or low credit scores
Credit history and down payment amount are the most important aspects to buying a home. How to buy a home with bad credit. Our Second Chance Home Loan Program provides home buyers with damaged credit the opportunity to purchase a home. In recent years, borrowers that did not have great credit were denied a home loan. We can now help almost every buyer regardless of the credit situation.
Buying a home is usually considered a great investment. However, a bad credit history can be an even bigger obstacle for potential buyers than it was in the past, as the recent economic crisis has caused lenders to tighten their standards for loaning money and providing mortgages. However, it is not impossible. You can buy your first home by accessing federal and local resources and saving for a larger down payment.
Get prequalified for a loan. The first step to buying a home is making sure you can get a loan. The Federal Housing Administration (FHA) and the Veteran’s Administration (VA) provide loans that have more forgiving credit standards, so we will check these federal mortgage programs first. The Richard Woodward Mortgage Team specializes in FHA and VA loans if you are eligible. Our goal is to make sure you have the best home loan program to suit your needs. If you can’t qualify for FHA or VA, then we have a way for you to buy a home with bad credit.
Second Chance Program Highlights
- Up To 90% Ltv
- No Minimum Credit Score
- Bankruptcy, Foreclosure And Short Sales Are Ok
- Deferred Maintenance Is Acceptable On Purchases
- Up To 7% Seller Help Allowed
- Gift Funds Are Acceptable
- Will need at least 2 Months Principal, Interest, Taxes and Insurance payment in the bank Post-Closing
- May Consider 1st Time Homebuyer With Larger Down Payment
[edsanimate_start entry_animation_type= “bounceInDown” entry_delay= “0” entry_duration= “3” entry_timing= “linear” exit_animation_type= “” exit_delay= “” exit_duration= “” exit_timing= “” animation_repeat= “1” keep= “yes” animate_on= “load” scroll_offset= “” custom_css_class= “”]Our 2nd Chance Home Loan Program is available for home buyers with loan amounts from $100,000 up to $1,000,000. That is right even Jumbo Home loans for luxury properties. [edsanimate_end]
Put your fears about buying a home with bad credit behind you. Just because you have bad credit or low credit scores or filed bankruptcy or gone through a foreclosure does not mean you cannot buy a home. You most certainly can buy a home with bad credit.
Many potential buyers think they can’t buy a house if their credit has taken a turn for the worse, but that’s not necessarily true. There is hope for those who want to buy a house, even if their credit is dismal.
You must be willing to put forth the effort to correct your bad credit history.
If your score is too low now, are you willing to do what it takes to improve your score? If you are, reach out to me. I will help you. I will provide you with a consultation of your credit report, a plan to correct most issues, and in some cases, I will refer you to an honest and ethical credit restoration professional.
The first step is to get a copy of your credit report. You can get a real credit report for $1 and exceptional credit tools for only $27 per month. This will allow me to assist you and you will see your progress with you very own monitoring program. Sign up now: Credit Reports Plus Identity Theft Protection | IdentityIQ
Once you get your 3 reports, send me a copy for analysis and your free consultation. I have helped hundreds buy their first home.
Some helpful resources include:
- https://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/fhahistory
- http://www.benefits.va.gov/homeloans/index.asp
Richard Woodward
Branch Manager, NMLS 217454
Your Local, Direct, 5 Star Rated Mortgage Lender
Voice/Text: (214) 945-1066
Nexa Mortgage NMLS# 1660690
Plano, TX 75025
How to Get a Home Equity Loan with Bad Credit
How To Get a VA Home Loan With Bad Credit ·
Home loans for bad credit are hard money at also get instant access to fast results of mobile home loan bad credit with 6 lenders providing instant quotes for those who are looking for bad credit home purchase loans or bad credit mortgages loans funded by private investors on any real estate property with equity.
Traditionally home loans for bad credit borrowers fell to the risky subprime mortgage lender.
How to get a home equity loan with poor credit to should determine capital business (usually such financial security which company.
How To Qualify For Home Loan With Bad Credit And Get Approved.
A bad credit home mortgage refinance loan can help your family.
We specialize in bad credit home loans.
How do you get a home loan when you have bad credit?..
Is it possible to get a home loan with bad credit.
