I am a single mom, bad credit how can i buy a first home

I have held my governemnt job for over 6 years so i have a very stable income. Over half my bad credit is medical bills. I really need to get into a house. I do not qualify for low income due to I make $45,000 a year. Any ideas? And no i cannot take a year and pay debt down. Its just not feasable. I am using income tax monies ($3,000) for down payment
(0) | asked by: Teresa Luna | share | 33 months ago | Report

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answer by Barbara Korabel   |   Visit My Website   |   Contact Me
Reaching out to the right person who can direct you to a lender with a program that caters to frst time buyers with bad credit is the first and biggest step. Talk to a realtor that is a buyer's agent and has succesfully worked with first time buyers in a similar situation.Here in NY we have government programs that deal with first time buyer assistance for closing costs and 100% financing.That means no down payment. Maybe you even qualify for a VA loan? You may need to go to some classes for a few months but the outcome far outweighs the time spent. Right now I have several clients with a low income that are due to graduate and receive up to a $7,000 grant for closing costs.You need to be agressive and start to research these programs on your own. Google government programs for first time buyers. Keep making those phone calls and eventually you will get that person who will help you.Just don't give up.
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33 months ago  |   Report   |   share
answer by ALVIN KING GRI, B.A.   |   Visit My Website   |   Contact Me
Select a Realtor in your area, explain the circumstance, and you will be introduced to a Loan Officer that should be able to guide you through this process. Provide them with all of the documentation that is requested of you, and be patient with the process. Good Luck!
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