- 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 (7)
- FrankHinton
- Contributions:1
See if seller will finance, with big down payment he can sell the note. Caveat, be prepared to pay mor for the house. /frank H., notefinder
- Spirit Messingham, "TucsonSpirit"
- Contributions:663
What is the definition of "good"? Lending has tighten their collective belts and for better or worse, it has become more difficult to obtain a loan in this market.
The good news is you can contact a local lender, and have a free conversation about where you are, your scores, debt-to-income ratios and etc. They can show you were you are, where you need to be, how much if you are pre-approved and etc. If you can't get pre-approved now, they can show you what to work on so that you may be able to become pre-approved in the future. It is free and only takes some of your time to find out. To be honest, it should be the first step you take when considering buying a home.
Best of luck.
Spirit
The good news is you can contact a local lender, and have a free conversation about where you are, your scores, debt-to-income ratios and etc. They can show you were you are, where you need to be, how much if you are pre-approved and etc. If you can't get pre-approved now, they can show you what to work on so that you may be able to become pre-approved in the future. It is free and only takes some of your time to find out. To be honest, it should be the first step you take when considering buying a home.
Best of luck.
Spirit
- Joel Fletes, "JoelFletes"
- Contributions:171
You definitely need a credit history to purchase a home. If you are a first time home buyer I would suggest you search for Consumer Counseling Credit Service agency in your area to help with buying a home. They are a Non-profit National organization to help first times with loans and credit.
- Jeff Masich, "Arizona Homes Land"
- Contributions:508
Dear 4:
Good question.
Your optioins are as follows:
1. Buy with a "Seller Carry" loan (not as many to choose from and prices are often higher
2. Get a co-signer
3. Have a family member purchase the home for you
4. Ask a lender to determine what you must to do qualify and work toward that objective
5. Rent to own (until your credit score improves)
6. Lease with an option to purchase (until your credit score improves)
May I wish you the best.
Jeff Masich
Arizona Homes and Land
HomeSmart
Scottsdale
Good question.
Your optioins are as follows:
1. Buy with a "Seller Carry" loan (not as many to choose from and prices are often higher
2. Get a co-signer
3. Have a family member purchase the home for you
4. Ask a lender to determine what you must to do qualify and work toward that objective
5. Rent to own (until your credit score improves)
6. Lease with an option to purchase (until your credit score improves)
May I wish you the best.
Jeff Masich
Arizona Homes and Land
HomeSmart
Scottsdale
- Gloria Giacinto, "propertyhappy"
- Contributions:10
Absolutely NOT. There is plenty of seller financing in today's market. Instead of paying a bank, you can pay a seller directly.
- Robin Armstrong, "Robin Armstrong"
- Contributions:152
Yes you need to establish credit. It is a good idea to get a couple credit cards and keep minumum balances. You can also get a secure credit card and keep a minumum balance. You will establish credit scores after 6 months.
- wetdawgs
- Contributions:26854
Yes, you need reasonably good credit to buy a house, even with a down payment. Without credit, all cash would be the way to go.
do you need good credit to buy a house?
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.