1) Credit scores
3) Debt / income ratio
What are the factors which make up low credit score? Is it debt ? Or charge off's? Bankruptcy? Short Sale? Foreclosure? These issue would need be addressed to raise your scores purchase a home
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
As the others have mentioned, "bad" needs more definition. I can tell you that in the old days it was a lot easier, but lending guidelines have gotten much more difficult. Most likely if you are able to get a loan it will require a higher down payment and/or a higher rate.
Happy to refer some lenders to you so you can see what's available to you.
Lance King/Owner-Managing Broker
I have financed plenty of people that have told me they have bad credit only to find that it was the result of something that happened 10 years ago.
Please tell more. If you want to contact me I will help you along with my partner that is licensed to write mortgages in CA.
Licensed Loan Originator
Amerifirst Financial, Inc.
apply online: http://www.mattpuzz.com
What's your definition bad credit? Let's start here:
Do you know your credit score?
Have you gone through a foreclosure, loan modification or debt forgiveness?
Are you late on payments for automobiles or credit cards?
Have filed for bankruptcy?
I have fantastic lender contacts who can help you figure out your purchasing power and ability. The best thing you can do is to have your options evaluated by professionals who are realistic and honest. Feel free to contact me for assistance.
Paragon Real Estate Group - dre: 01844627