i have bad credit near 500 and i want to buy a home with low or zero down/100% fin. is it possible if so who do i call or where do i go. i dont have anyone to co-sign either.
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Hi.
Try the aussie comparison site on here:
Well, take a year, get a consumer credit counselor to help you clean up your credit. Pay off loans, etc.
There is also the legal but unethical practice of borrowing another persons good credit score called piggybacking. It isn’t honnest, it is being phased out. good luck.
Do NOT use a credit counselor…they negatively affect your credit!
You will need to get your finances in order before you start going into one of the biggest debts of your life. Renting is always cheaper…with a house you’ll have the mortgage, property tax, homeonwers association dues, all utlities, lawn maintenance, general upkeep, etc. A rental has the rent and a few utilities.
You should be able to put at least 20% down to avoid mortgage insurance and get a better rate.
So pay off your current debt, save money for a down payment, and then look at your housing situation.
Zero down with no down, huh? A very tall order, but not impossible, believe it or not.
There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.
Of course, some will cost you more money in the long run, but a home it’s still one of the best investments that you can make, so, in many cases, it’s worth it, especially for the first year of ownership.
You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. You can find some bad credit mortgage lenders listed on this page on and off: