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Home purchase

I'm looking for advise on purchasing a home with bad credit. Not proud of this but it's a fact.
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October 02 2011 - Visalia
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The only way in today's mortgage environment it to find a home seller that is willing to do an owner finance. You will want to find an agent in your area that works with clients like your self that are need of owner financing. You should be able to find an agent in your area by searching in your zip code here on Zillow. Most owner finance situations will require at least a 10 percent down payment so if you do not have that you will need to begin saving for the down payment. I hope that helps and best wishes!
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October 02 2011
Hello Ana,
Regulation has changed quite a bit, but not that much.  "Fixing" the credit issues would be easier than purchasing a home with "bad credit".  However, If you can find a seller who is motivated, owner-financing is an option.  I suggest trying a reputable credit repair company first.  Your credit worthiness could be restored within 45days to 6 months depending on the credit woes,  And what ZIP or metro are you?

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October 02 2011
The best advice I can give you is to go see a mortgage professional.  They willl be able to tell you if you can get a loan and what terms the loan would be.  Then you will have a good idea of yourhouse payment as well as how much you can afford.  They offer this service for free and it is usually pretty easy to find out.
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October 02 2011
This is for the most part, the state of things in todays Real Estate world.  I would suggest one of two things you could do.  One is to contact a credit advisor and work with them to get your credit in line with making a home purchase.  Two would be to search for non-traditional finance terms such as owner finance or lease to own options. 
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October 02 2011
My suggestion is to contact a local mortgage loan officer.  Many sellers do not want to deal with any mortgage loan company that is not local and understands the local market.  Look for a company that has local underwriting.  If you are not ready to purchase the loan officers will tell you want to do to correct your issues or how to counter balance bad credit with good credit.  I can suggest some loan officers in the Visalia area that work well with people like yourself.
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October 02 2011
 
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