I have terrible credit, the top score is 618, and I'm really for once trying do the right thing but I need help. Can you help me get in a home?
I am not sure I can help you get a home but here are some things that you need to know.
1. Repairing credit scores is not easy but to raise the score the best thing to do is to not have anymore negative items, so pay the credit cards, car, rent and other bills on time.
2. Make every effort to reduce the amount of debt you are carrying.
3. Get a copy of all three credit reports and go through them and see if there is incorrect information which you can challenge and get removed. There are always error on one or more of them.
Mortgages and house buying- this all changed as a result of the financial crisis. so you have to be aware that this can be a really long and tough process. If you have access to things like Veteran's mortgages I would look there first. I would also look at loans from the HFA ( Housing Finance Authority) these loans will require mortgage insurance but loans are available. Depending on where you live the Department of Agriculture has some loan programs. | 06.22.15 @ 17:14
Actually, the FHA, or Federal Housing Authority, was established to make homeownership accessible and affordable. They have programs for poor credit with scores as low as 580, and purchase money for down payments as low as 3%. Seek an experienced, designated FHA loan officer to help determine if this is the right course for you. Good Luck! | 06.23.15 @ 15:16