Zillow Advice: Home Buying - i have bad credit and i want a home

You need to look at why you ...

Sat, 27 Jun 2009 00:36:00 GMT

You need to look at why you have bad credit. Bad credit is like a bad day, it's only temporary if you have a plan. You can work toward your goal of ownership, save for down payment and make your credit score better. In the end it takes longer, but means you will appreciate it and be more likely to keep the house that you buy. If you want good links about fixing your credit for free and taking control of you budget with the goal of home ownership in mind, let me know. I'll can post links to several excellent free sites with lots of tools you can you to get on track to where you want to go.

You cannot use your 8k First ...

Sat, 27 Jun 2009 00:31:00 GMT

You cannot use your 8k First Time Home Buyers Credit as your downpayment. The money is to be used to assist you with closing costs.

You STILL have to have 3.5 percent down for FHA of your own money.

There is no such thing as a free lunch.

How can you use money that ...

Fri, 26 Jun 2009 17:34:00 GMT

How can you use money that is anticipated for down payment?????

fix ur credit

Fri, 26 Jun 2009 17:32:00 GMT

fix ur credit

prwagner3There are a lot ...

Fri, 26 Jun 2009 17:16:00 GMT

prwagner3

There are a lot of conflicting opinions about the tax credit. I was told that's what it is a tax credit to be filed at tax time. How do you get your hands on the$ 8000 as a down payment?

Fix your credit, there's ...

Fri, 26 Jun 2009 17:01:00 GMT

Fix your credit, there's a unique idea!

Bad credit does indeed cause ...

Fri, 26 Jun 2009 16:59:00 GMT

Bad credit does indeed cause a problem for getting a loan because the lenders are not confident that you will change your previous money management practices and pay back the loan.

Therefore, the steps to take are to understand why your credit is bad, make some changes so you can bring your score up, and meanwhile save up a substantial downpayment. Yes, this might take a year or more, but if you as you want a home so much it is worth the effort.

Try getting an FHA loan from ...

Fri, 26 Jun 2009 16:33:00 GMT

Try getting an FHA loan from the banks. FHA loans require a much lower credit score (generally between 620 - 650) and a much lower down payment (3.5%). You can even use your anticipated $8000 tax credit as your down payment!