Is there a home loan you can get if you have bad credit? Is there anyone here who has/had bad credit and got a mortgage? The house we want is bank owned so we can't ask about rent to own or anything
Not usually unless you have a significant amount of money to put down. Most banks will not give home loans to anything less than good credit right now. Even ones with great credit are having difficulties without a hefty down payment.
Everyone I talked to wanted a credit score of 640 and atleast 1000 down.....depending on price of house....most wanted 3000 or 5000. If possible try credit union or savings and loan place instead of mortgage company or large bank
Do u have a realitor? Sometimes they know of some good places to try. As long as one of u have a steady job u might find one. Ur interest rate wont b super low but u still might have a chance. Just dont give up. Good luck to u. I hope everything works out.
I bought my house b4 everything went to h***. I was 1.5 yrs out of bankruptcy we had to wait till the 2 yr mark to close. We did ours with no money down but That was 7 yrs ago when the economy was decent.
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