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What if I was arrested for drugs ten years ago? Does having a conviction on your record disqualify?

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December 16 2010 - Warsaw
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Answers (5)

That issue should not even come up in a normal loan application. As others have mentioned, the past 2 years employment, income, credit history, available assets, debt load...will be used to determine your financing options.
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January 08 2011
Lenders only care about your ability to pay not your past criminal record.   good luck on your search to buy a home. 
Buying a home is something to smile about!
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December 24 2010
Conviction isn't a problem. We pull credit bureau reports and not rap sheets. 
 I assume that you have paid back your debt to society already. We we looking for 2 years credit, 2 yrs employment
  We basically look at the 3 C's of Credit. Character- this is credit report- does he pay his bills on time, capacity- does he work- hwat does he make- does he have stale employment, collateral- what type of down payment are you putting down.

Application also know as 1003- doesn't ask anything about convictions
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December 18 2010

Lenders only consider your financial ability to purchase a home and repay the loan.  As long as you have a steady job with the income to pay for the mortgage, you can get a loan. 

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December 16 2010
if your looking for a loan no, as long as there are no unpaid bills/judgements against you.
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December 16 2010
 
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