Financing in Billings>Question Details

Tazmania, Renter in Billings, MT

Can i buy a home with poor credit in Billings, MT?

Asked by Tazmania, Billings, MT Wed Apr 21, 2010

Help the community by answering this question:

Answers

6
We have 2.5 acre lot on 64th ST we want to sell. It is flat, square and has a ton of water for a well. All Utilities are right on the property including natural gas. What can we expect it to be worth in this market.
0 votes Thank Flag Link Mon Oct 14, 2013
Just how bad is your credit--visit with any qualified loan officer(s), see exactly what your budget can handle and check your credit score--their scoring is different--your loan officer may suggest how to best improve your credit in the fastest time if needed. Currently FHA loans do require a minimum score of 620 and 3.5% down, there may be lenders who will work with a lesser score, however the interest rate may be higher. In the meantime work on repairing your credit--keep credit cards below 50%, pay all bills on time, dispute old negatives, pay off old debt, pay down debt, etc.
0 votes Thank Flag Link Thu Apr 22, 2010
Hi Taz,

First you would want to check your credit score here is a link to a free website.
http://www.CreditKarma.com

Next you would want to look over your credit report to see the negative items which are causing a drag to your credit score
http://www.AnnualCreditReport.com

If you need assistance interpreting your credit report please feel free to contact me I will provide some strategies and techniques for improving your credit rating. I have also blogged about boosting credit scores and those articles might be of interest to you. Good luck!

Hannah Fliegel
The Credit Repair Expert
415-999-9348
0 votes Thank Flag Link Thu Apr 22, 2010
I have never been to Billings, but is that what you want, in Billings, MT? Everywhere else it takes three things. 1) Must need a home 2) Must want to buy a home. 3) Must be able to buy a home. If your credit history is poor, how can you expect to pay for it? A loan? Is there some reason your credit is poor? Too many debts now? Too slow in paying? Delinquent in paying? If so, why would anyone loan you money to buy? Seems you lack the third criteria to buy, able to buy. So be careful out there.
0 votes Thank Flag Link Thu Apr 22, 2010
It really depends on what you consider poor credit,....and of course what the bank considers poor credit. There are various local lender programs that allow for lower credit scores depending on your personal situation. Some are for single moms, and some are about the location of the property- for instance rural areas surrounding Billings have some different loan structures available. Repairing your credit is also a very important ongoing process, but I would suggest that you get help from a local lender...don't get scammed by one of those "credit repair" businesses that may only be out to improve their own bottom line. Thoroughly check out any company prior to getting their "help". You may also find some other helpful suggestions on ClarkHoward.com. Best of luck to you.
0 votes Thank Flag Link Wed Apr 21, 2010
I seriously doubt it. What I would do is go to a lender and let them give you a game plan to get your credit in a better postion.

Good Luck!!!
0 votes Thank Flag Link Wed Apr 21, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer