https://3wayfunding.com/optin,
http://www.businesscreditamerica.com/ 1-888-883-3013
How do I get a mortgage with bad credit?
Being a homeowner is a great feeling. You know you’ve made some progress in your
life, when you’re no longer a renter but instead an homeowner. However, many of us struggle to get the
chance to own a home because we have bad credit.
Now, you don’t have to be discourage anymore, because there
are home buying programs and lenders willing to help you become a home owner
even with bad credit. Although, they may
have a few extra criteria’s, you can buy a piece of real estate.
With the FHA mortgage program, their criteria’s are fairly
simple. They would like for you to have
a minimum credit score of 580, 3 to 6 months of paystubs, 2 years of taxes, and
debt to income ratio of 35%. They also
want you to have a down payment of 3.5% of the mortgage value and you can even
borrow that from a friend or family member.
Another nice thing about the FHA mortgage program, if you have relative
living with you, they will include their income to help you qualify for that
mortgage.
There are also conventional mortgages that also have become
very flexible when working with new home buyers, such as allowing a home buyer
to put 3% down on that house. Also,
they’ve made it easier for veterans to buy a home with no down payment.
So, can I buy a home with bad credit? The answer is yes,
however I would encourage to fix your bad credit so you can get a lower
interest rate.
