Heres How to Buy a House with Bad Credit
Depending on your circumstances, you may have lending options that make it possible to overcome that bad credit barrier.
You might think that having a credit score in the 500s would keep you from buying a home. But that isn’t always the case.
This guide will teach you how to buy a house with bad credit,
and where to go to find financing that will work for you.
Lender Credit Score Requirements
Every lender has a set minimum credit score. Some lenders will accept lower credit scores while others have stricter requirements.
For example, a big national lender may approve a homebuyer with a 620 FICO for a fixed-rate mortgage.
Also, be aware that lenders may change their requirements depending on the economy.
VA Loans’ Credit Score Requirements
Your personal situation may also come into play when it comes to getting a mortgage with bad credit. The best example is VA loans.
VA loans have no minimum credit score requirement.
They also have no down payment requirement. That means as a Veteran or Military Service Member,
you can buy a house with bad credit with no money down, assuming you can find the right lender.
So, What’s The Secret to Buying a House With Bad Credit?
No matter what your circumstances are, there is one surefire way to find all the opportunities available to you to buy a house with bad credit.
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