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Answers (11)
- Stephania Denis, "Stephania Denis"
- Contributions:5
you cannot buy a house now but you should start to build your credit so that you'll be in a better position to buy in a few years.
you need two years of credit history and two years of employment history in order to get a mortgage.
start applying for credit cards but make sure not to use more than 40% of your available balance. keep a small balance on at least two or three credit cards and make the monthly payments. you can start with a secured credit card if you cannot obtain a major credit card.
you need two years of credit history and two years of employment history in order to get a mortgage.
start applying for credit cards but make sure not to use more than 40% of your available balance. keep a small balance on at least two or three credit cards and make the monthly payments. you can start with a secured credit card if you cannot obtain a major credit card.
- Rerhi The Realtor
- Contributions:34
If you at least have a security deposit you may be able to find a lease option which will enable you to begin the process of purchasing a home and repairing your credit simultaneously. This could be a stretch but in this market you may very well be able to locate one. I am very familiar with Ferndale and between there and Hazel Park I am certain you can find one as I have done a few very inexpensive Land Contracts and lease options in Hazel Park. Bottom line is that you need to gradually work on getting your credit in order. Do you have help in that department?
- SteadyState
- Contributions:787
Let's see. You can translate your statement as: I have no money and a poor track record of paying my bills on time, will you lend me money?
Would you lend money to yourself? Your education should say no. That being said - bad credit is not a permanent disability. If I were in your shoes I would first fix my credit , collect at least 20% down (for someone as young as you I would suggest 33%) and at least 1 year of cash on hand so it is possible to ride out another downturn without losing your down payment and your home.
Would you lend money to yourself? Your education should say no. That being said - bad credit is not a permanent disability. If I were in your shoes I would first fix my credit , collect at least 20% down (for someone as young as you I would suggest 33%) and at least 1 year of cash on hand so it is possible to ride out another downturn without losing your down payment and your home.
- Lori Davis, "Lori Davis Realtor"
- Contributions:3
The best thing you can do is speak to a lender that is highly referred to you. If they are good at what they do - they will run your numbers and sketch out a plan for you to follow to get into the buying position.
then otherwise - with the market being as it is - some sellers are willing to do what is called a land contract - contact a local agent in the area you would like to be in and ask them to explain that process and look for listings for you
otherwise - have a great holiday
Lori
then otherwise - with the market being as it is - some sellers are willing to do what is called a land contract - contact a local agent in the area you would like to be in and ask them to explain that process and look for listings for you
otherwise - have a great holiday
Lori
- John Stewart, "nwhome.us"
- Contributions:2166
Start using prepaid credit cards and stay current.
Save for a 20% down payment on a home.
If you can achieve both of those tasks in 2 years, you should be able to buy a home.
Save for a 20% down payment on a home.
If you can achieve both of those tasks in 2 years, you should be able to buy a home.
- Steven Pacchiano, "NY Broker"
- Contributions:313
improving your credit and saving some money for a down payment is a must, it will take some time but get started now.
- Kathy Dessimoz, "Kathy Dessimoz"
- Contributions:1550
There are companies like "Credit technology" that can tell you what you might need to do to improve your score now.
Also, there are many loan programs available that allow you to buy with ZERO down and NO mortgage insurance if you qualify.
Also, there are many loan programs available that allow you to buy with ZERO down and NO mortgage insurance if you qualify.
- wetdawgs
- Contributions:26833
"I'd like to turn my credit around". Turning your credit around is the first step. When that has happened and you have a good down payment saved up (and a steady source of income), then is a good time to see if you are ready to buy.
- Kenneth Young, "Kenneth Young 1"
- Contributions:9
If you don't have good credit, you will not be able to get the loan. First of all, you need to fix your credit to reach minimum score to get the loan. What is your score now? You need to discuss with any credit profession.
- Dan, "the_country_hick"
- Contributions:4699
Improve your credit. Bring your score up. Save money for a down payment. Now at age 32 you should be well on your way.
"How do I get a down payment to buy a house? The ideas below worked well for me. They could help you also."
Would you lend your money to someone with the credit and assets you have?
"How do I get a down payment to buy a house? The ideas below worked well for me. They could help you also."
Would you lend your money to someone with the credit and assets you have?
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
How bad is bad? Have you pulled a report &/or checked your scores? You are a bit too vague to get helpful advice. You may also want to state in the mortgage section to see what (or if) you qualify for.
I have terrible credit and no collateral, can I stil get a loan to buy a house?
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