I am intested in "buying" a house or condo.. I'm a first Time home buyer. I believe that I have Poor credit.. 600. How can I achieve this?
(1) | asked by: Patricia Glaudin | share | 30 months ago | Report
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Viewing Answers 1 - 14 of 14
If you do not have a lender, it will be my pleasure to refer you to a couple of loan brokers/loan officers who have worked with many of my clients who feel they have bad credit. They have companies that will work with you in repairing your credit. Also, in Florida, we have First Time Homebuyer programs that you may qualify for. A lender can tell you what loan programs you may qualify for, as well such as FHA.
Your best bet is to first contact a lender. A 600 credit score is doable, but a lender will need to go over your other financial obligations first to see if and what you qualify for. At the very least, they will be able to give you a road-map as to exactly what you need to do to achieve your goal of home ownership.
Foremost important is to hire a great Buyers' Agent, who will look after your interest. There is no cost to you. Calling off ads or signs will result in dealing with the sellers' agent. Not where you want to be, as the listing agent job is to get highest and best price for the seller. A buyers' agent can search out homes with your criteria, in your price range, and obtain the best possible price for the property. It is smart to arrange a meeting with a buyers' agent first hand to discuss the process from shopping to buying to loan to closing ..and get a comfortability level with a buyers agent. As a agent with 30 years experience selling Tampa Bay..I can be that for you.
Not a problem. I work with an investor that will approve 525+. Please contact me directly. I'm with CENTURY 21 Beggins Enterprises with 11 offices along Tampa Bay. Thank you.
Patricia, no worries. Key here is to talk to a good loan officer or loan broker. They can make certain suggestions on how to fix your credit. Patience is the key. They may also know of certain first time buyer programs. The best place to start is with the bank that you are currently using.
My company can do FHA or VA financing with credit scores down to 580 FICO.
I have a great lender that will work with buyers that need help with credit. Private email me at; and I will be glad to pass on the information. Thank You George
The State of Florida has a bond program that can give $10k to a First Time Homebuyer or Veterans can get this money and do not have to be first time homebuyers. The State of Florida requires you to work through an APPROVED lender and you can find a list of the approved lenders . Many lenders are NOT on the approved list and there is pretty much an unlimited supply of this money. You will need a 640 credit score and an experienced lender (chose one on the Florida approved list) can give you advise on how best to improve your score. Also just today a new rule went into effect that requires the 3 major credit reporting bureaus to actually do some investigation when a person disputes an item on their credit history. Before today the credit bureaus would not do any investigation and basically would just accept the creditor's notice that a debt was valid. Contact a knowledgeable loan officer and of course pay every bill on time, pay your rent via online payment so you will have proof it was paid on time and if you have any credit card balances then bring them down well below your maximum available credit limit - I've heard no more than 70% of your MAX credit limit but check with a lender.
answer by Elizabeth Feran
wow. I'd love to talk to someone, too. I would be a first time buyer, but never pursued it because I felt I had no chance. My credit isn't poor, but probably fair. I'm in the mid 600's. However, I pulled my report and there were a lot of mistakes on it, so I suggest doing that. I did just get a car loan though which surprised me. I hate paying rent for sure.
Hello and thank you for reaching out for answers. Your first step is to contact a lender and discuss your credit in order for you to know exactly where you are and what you can do. There are several programs for the first time homebuyer and you may qualify for one of these. Again, first step is to call a lender and see where you stand.
The fist step is to get qualified with a mortgage lender. They will be able to tell you if and what loan program you qualify for. Once qualified, you can select an experienced Realtor, like me to help find the best home.
What area are you interested in? Tampa, New Tampa, Lutz, ?
With Carrington Mortgage you are more than a credit score. I can ensure you that our company has proven this recently with our initiative to serve the under served and make sure that every client has a fair shake at obtaining a home loan. On average I close 6 loans a month that other lenders turn their nose up to. Feel free to do you due diligence and search out our company and our commitment to serve the under served and then reach out to me to get the process started. Joshua Lerette - Sales Manager Carrington Mortgage
With Carrington Mortgage you are more than a credit score. I can ensure you that our company has proven this recently with our initiative to serve the under served and make sure that every client has a fair shake at obtaining a home loan. On average I close 6 loans that other lenders turn their nose up to. Feel free to do you due diligence and search out our company and our commitment to serve the undeserved and feel free to reach out to me to get the process started. Joshua Lerette - Sales Manager Carrington Mortgage
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