What can I do if my credit is poor and looking to buy a home?

Start with a good local lender (call me and I can give you a few that I think are fantastic) who will help you with your credit repair. You want to try to get your score over 640. Get all your bills paid up to date, then make sure you have letters from any creditors that have been paid off. This will get you off to a good start and the lender will take it from there.

Most people are not in as bad a shape as they think. Connect with a good loan officer and they will put you on a plan to get your credit in shape for a home loan. Sometimes it can only take a month and sometimes it is a 6 month process. After that, it should be easy to find a home. Good Luck.

Let me make a suggestion of going to your local bank and talking with them. If they can't assist you they will certainly be able to recommend someone who can. If your credit keeps you from buying, it can change over time. You just need to get with someone who can show you how. Thanks

Hello Krystina I will be happy to try to help you. I have been a mortgage banker for over 18 years and have helped numerous people in your situation. If you can not qualify now for financing we can help you position yourself so in a few months you may be able to purchase a home. Please contact me if this sounds interesting.

Thank you for your question. Let me start my recommending that you contact a mortgage lender of your choice to see just where you stand and what options are available. The lender will not only look at your credit score but also offer advice on ways to improve your credit score. Now, let's look at some other options. If your job history is good and your income is steady; OWNER FINANCING might be avaialble. Also, do you have any family members who would be in a position to provide PRIVATE FINANCING? My final suggestion is to look at properties with a LEASE-PURCHASE option so that can move into the home but you will have some time to work on improving your credit. Your REALTOR can help you identify properties that may offer owner financing; or those with a lease-purchase option. In the meantime, continue to make timely payments on all of your current obligation. I wish you the very best in your home search; and hope that 2012 is a great year for you. Phillip Updike RE/MAX Performance Realty