Buy a home with poor credit

Hi Turin,

With the credit scores that you have, you won't be able to qualify for a home loan or mortgage. You will have to improve your scores and then look out for a mortgage.

Thanks,

Jerry

Hi Turin!

Welcome to the forums!

Check out the given page in order to know some steps to improve your credit score: http://www.mortgagefit.com/credit-rating/credit-repair.html .

Feel free to ask if you've further queries.

Sussane

with that score you won't be able to apply for loan please improve your credit score and then apply for loan

Hi Turin! I agree with everyone. Sadly you won't be able to buy a home with those credit scores. Work on improving your score first. Once your scores are in the good credit score range, then you can try to apply again. If you insist, you can apply for sub-prime loans and although you might be approved, make sure that you can afford to apply for one. You might face some difficulties in paying the extremely high interest rates of sub-prime loans since you mentioned that you are currently paying off your debt and bad collections.

sorry to have to tell you this, Turin, but your credit scores are in the poor range, which may make it impossible for you to qualify for a home loan. There are sub-prime loans, though. The only drawback is lenders of these loans charge insanely high interest rates. I suggest that you do not rush into this. It would be best to get some kind of financial stability before you take out a mortgage. So finish paying off your debts, look at your credit report and score, and work on improving them. Once your scores have improved, you can try taking out a home mortgage from a regular lender who may offer you better rates.