- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (5)
- Mark Gelbman, "Mark Gelbman"
- Contributions:222
We can actually go down to 600 on a FHA, but there are additional requirements. You would need to have a lender pull your credit report, which we can do.
- Chris Creed, "Santa Monica Realtor"
- Contributions:30
You typically need a score of 620 to obtain financing. If your credit is below that the "lease option" could work great. If you work hard on your credit you can get it there, usually less then a year. Good Luck!
- Toan Nguyen, "Toan Nguyen"
- Contributions:140
If the property is own by an individual and not a bank, you can do what is called a "lease option". A lease option is where you have a "buying " arrangement with the seller of the home at a future time. In a lease option you agree to lease the property from the seller with an agreement that in a year or two, you would buy the property. During this period of time that you are leasing the property, you are responsible for the maintenance of the property. You should also consider fixing your credit while leasing this property. A portion of your lease will go towards the eventual purchase of the home.
If you have bad credit and want to buy from the bank, find someone that can buy the property for you. Give the purchaser of the property a signed lease option agreement.
If you are unfamiliar with how lease options work, go down to the local real estate club and meet all the folks that are real estate investors. They can structure a lease option for you.
If you have bad credit and want to buy from the bank, find someone that can buy the property for you. Give the purchaser of the property a signed lease option agreement.
If you are unfamiliar with how lease options work, go down to the local real estate club and meet all the folks that are real estate investors. They can structure a lease option for you.
- Karen Paytas, "Karen. Paytas"
- Contributions:77
This home is not currently for sale. You would need to talk to a mortgage lender and find where you stand on obtaining a mortgage. Otherwise, you would need to look for homes available rent to own or land contract.
Goo Luck!!!
Goo Luck!!!
- Mark Gelbman, "Mark Gelbman"
- Contributions:222
It depends - Do you know what you credit score are?
How can I buy this Home with bad credit
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.