If you have bad credit, is it possible to get a mortgage for a first time home buyer?
Sunday, February 28th, 2010 at
1:15 pm
All the bills were paid, but they all went through collections, I fell on hard times, but I do have about 15,000.00 cash to put down. I live in texas..thanks
Rent Back Fast
Related articles:
- Is there a mortgage company that will pre-approve a first time home buyer with real bad credit in Texas? I have a credit score of 415. The 3...
- What is a good way to get a mortgage loan for a first time home buyer with bad credit? I have paid off all delinquent things on my...
- No Doc, Bad Credit, First time Home Buyer Purchase Mortgage? I want to buy a single family home in...
- What mortgage company is best to deal with a first time home buyer and w/ bad credit? My credit is bad but I’d like to buy...
- Roll credit card debt into first-time home-buyer mortgage? I have about $9,000 in credit card debt (reduced...
Tagged with: Bad Credit • First Time Home • Texas Thanks
Filed under: mortgage
Like this post? Subscribe to my RSS feed and get loads more!
yes, you can even qualify for some fha loans……but all the bad debt on your report does have to be paid off first
Find a Buyer Agent and have them refer you to the local Rural Development Rep. These folks work miracles. Also state Housing Authority.
You are in better shape than you think.
Good Luck
Stay away from regular financial institutions, they want current debt to be up to date and your old debt to be paid without collections. But if you are like 65% of Americans (and Canadians), you are in debt far more than you should be and your bank knows it. Talk to a mortgage broker, they have access to more options and they will even give you a mortgage when your credit is no good. You will have to pay a higher interest rate but at least you will have a home. Once your finances are in better shape years down the road, you can refinance your mortgage for a better rate. Normal banks provide you with their mortgage, their way, with their interest rates. A mortgage broker can offer you several different options that suit your needs. REMEMBER to shop around and don’t be discouraged if you get a lot of no’s. Someone will say yes, you just have to find them.
Good luck!
Hi it is possible to get a loan with bad credit…..I am a Loan Officer so I do know…With a 580 credit score you can get a 100% financing depending on which lender is used…and there are some lenders that will let you use a co-borrowers score and finance a purchase as well…..It just depends on wether or not you have a good loan officer working with you to find the best program that wil fit your needs………
yes – check out fha loans
Yes, you can buy a home.
You will need to establish some positive credit first. Here is some additional info that might help.
Depending on your particular situation you may not have to put any money down. We have been able to assist people with less fortunate situations find 100% financing. Feel free to log onto fill out a complete application form. For further assistance contact me directly at 866 530 730 ext 7305 or by email at
Yes, it is possible, but your credit scores and your total financial picture will be critical. It sounds like you may need to set some goals on when you may be a candidate for purchasing. The prequalification process would be helpful for you. I suggest you meet with a skilled mortgage broker and set some goals for credit recovery as well as budgeting plans.
If you have any other questions, or need assistance, please contact me via my website or email me directly at