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Help me, please!
I have poor credit and I need to buy a new home soon before my old home falls apart. I have $10,000 saved up. I have found decent homes between $15,000 and $30,000. What do I need to do?
Asked by
jfarley87
9 months ago
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Annualcreditreport.com and pull your credit report to see where your at score wise. A 580 or better could get you considered for a FHA home loan with that large down payment. Talk to a recommended mortgage broker. Good Luck.
nandog 9 months ago
Is seller financing an option on any of these homes? If you've really found homes at those prices (and I know in some parts of the country it's still possible), then you've got a downpayment in hand of a huge 33% to 67%. With that kind of money down, many sellers will carry the rest. I have good credit but I got a seller-financed mortgage with 20% down (in a similarly cheap housing area) and the seller didn't even bother to do a credit check. Good luck!
Clairissa 6 months ago