Is there a way to finance a home with poor credit?

I'd like to buy a home with a large property, but have poor credit. This would be my first home. How can I overcome my poor credit past and finance the home of my dreams?

Is there a way to finance a home with poor credit?
one company can help you raise your score to what you need they guarantee it! the only one i know if


this lender will credit you the amount you paid for the service when you finance with them.
Reply:Unfortunately, no.





If you do find a lender to do this, the terms will be unfavorable and make your situation worse.





You can overcome your poor credit by fixing it. Sorry, that is the reality.
Reply:Probably not going to happen in the current market. Sub-primes are hard to come by.





The best answer is that you are not ready to buy a house. Start saving like crazy, and pay all your debts on time every time. Once your credit score is improved (in a year or two) and you have 10% to 20% down payment, plus a good cash emergency fund (so you don't end up in default when the water heater breaks or the A/C goes out) THEN you will be ready and able to buy.





Perhaps the lending situation will be a bit more stable then as well.





If you DO insist on trying to buy now, you will get an outrageous interest rate and lots of hidden fees. You'll probably have an early termination fee that will prevent you from refinancing without paying $10K or more! All of this will probably end up causing you financial hardship and you will end up ruining your credit again! And losing your house.





Keep dreaming until you are ready!
Reply:There are a lot of factors determining how BAD your credit is.. Is it Score? Is it debt to income? Is it mostly medical? Is it old stuff that needs removed? Your lender should discuss each line item of your credit report with you to get to the problem. Then you should be able to discuss your options. Most lenders know how to help if they want your business and your willing to be patience let em show you how to do it!
Reply:Don't lose hope if you're looking to buy a home. 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:





http://www.axalda.info/bad-credit-mortga...
Reply:of course you can, if you make enough money and you're able to provide documents (W2s, pay stubs, bank accounts statements) or add family members that can help you apply, even with bad credit, it's possible thru a F.H.A. Loan.


rates are at 6.5% with 100% financing.





it's true
Reply:first pay off debts, fix those credit of yours, save some money and buy next year or two

lily