Are there any banks that give mortgage loans to people with bad credit?

Answers:2   |   LastUpdateAt:2012-10-25 04:21:00  

Question
Dannie
Asked at 2012-09-11 08:14:05
I'm looking to buy my first home. My goal is to reach a 620 credit score but I know this will take some time . I was wondering if there are banks out there that give loans to buy a house if you have bad credit or if there are programs out there that help you repair your credit to get into your first home ? My best credit score from the three credit bureaus is 550 . The worst is 490. Please help !
Answer1ConnerAnswered at 2012-10-21 10:01:01
Find out what your bad credit first . If you have saved money for the house , perhaps to use the money to pay some debt first. Check to see if the credit card companies now have more informaiton , and no one has screwed up his identity , so I have the entire amount in the report . If you have a car payment , make sure the credit report show that had good payment history . You should be able to find the self-help book in the bookstore . MedlinePlus MedlinePlus Right now, if you have enough for a down payment as 20% , then you might be able to get a loan . However, if you have no savings, then I doubt you will get anything . So find out how much you want to invest in the house , and the amount of money you have , then you can adjust your budget accordingly.
Answer2purbashaAnswered at 2012-10-25 04:19:32
You are far from qualifying. Lenders use the average score , has only 2, but let's say the third marker is 520, the median is 520 so your score is 100 points and rest. You have to look at the factors that cause your score to be so low . I'm not trying to be rude , but you almost have to try to get a score that low. Not only does not pay your bills , you're not paying attention . Only the establishment of a good payment history and waiting to leave negative information will help improve your score .
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