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Are there home loans available for people with poor credit?

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August 21 2011 - Salem
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Answers (5)

Yes, it's called FHA.

Happy funding, Rudi
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August 22 2011
Also, I can make a referral to you for a credit couseling service that is a not for profit that works free of charge.  I'd highly recommend getting in contact with me so I can pass on their info to you. 
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August 22 2011
Can you provide some more information. Do you know what your middle score is?  Have you filed a bankruptcy? Had rental lates?  Judgements? There are factors that may allow you to get a loan. 
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August 22 2011
We'll go down to a 580 with restrictions.
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August 22 2011
Why do you consider your credit poor?  It would depend.  Unfortunately guidelines have tightened up quite a bit in the last few years.  There are some lenders that will allow as low as a 560 credit score on FHA but you must have many compensating factors and at least 5% to put down.  If you have had a bankruptcy chapter 7 that has discharged less than 2 years ago generally you won't qualify.  If you have had a foreclosure or a short sale in the last 3 years you won't qualify.  I hope I have answered a few of your questions and helped steer you in the right direction.  Who knows?  Your credit might not be as bad as you think.  You should have someone take a look at it for you in your area. 
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August 21 2011
 
Related Questions
Are there home loans available for people with poor credit?
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Latest answer by Rudi Hofmann
August 22 2011 | 5 answers
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