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Answers (6)
- Holly Hessong, "hollyhessong"
- Contributions:53
I would find a credit restoration or repair company the help you get the score up. Then I would use a mortgage banker or a bank.
- Christine McGinty, "whitemountainagent"
- Contributions:273
Probably a mortgage company because I agree they have access to different programs out there. Used to be people with bad credit could get sub-prime lending, but that's not the case in this market. Though you may not be able to obtain a mortgage at this time because of your credit, a mortgage lender can guide you as to what to do to clean up your credit and obtain your goal. I've had clients who thought they had really bad credit only to find out it wasn't as bad as they thought.
- sunnyview
- Contributions:25139
Start by getting a copy of your credit report so you know what is on it and what your current score is. One credit report a year is free from the credit reporting agencies here, but you will have to pay a small amount for your actual credit score. Last time I looked it was about $14.
You can get strategies to improve your score here and here. The myfico site also has a break down of what makes up your score and what you can do to improve it for free. Focus on making yourself a good candidate to buy before you buy. It will reduce your costs in getting a mortgage and make it more likely that you will be able to keep the house that you buy out of financial trouble later.
You can get strategies to improve your score here and here. The myfico site also has a break down of what makes up your score and what you can do to improve it for free. Focus on making yourself a good candidate to buy before you buy. It will reduce your costs in getting a mortgage and make it more likely that you will be able to keep the house that you buy out of financial trouble later.
- sunnyview
- Contributions:25139
Bad credit is not forever. You can fix your credit and that will give you more choices no matter who you choose to work with for a mortgage. Focus on your credit before you focus on getting a home. There are lots of things you can do for free to improve your credit score and make it easier for you to buy. You do not need to hire a credit repair company, but you do need to target areas you can work on to raise your credit score.
- Tom Rheault, "soldwithtom"
- Contributions:154
I'm with Celia. Go with a mortgage lender.
- Celia Butler Home Loan Diva, "At Academy Mortgage"
- Contributions:359
Definitely (In my opinion) a mortgage company!! I can give you many reasons but without a doubt - top of the list - is service. I could expand but trust me - work with a good mortgage broker rep. They have more access to programs that will assist you and plus they have networks for a variety of lenders.
Sincerely,
Celia
Sincerely,
Celia
mortgage company or a bank to finance your home loan as a first timehomebuyer with bad credit?
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