In order to buy a home using a traditional mortgage, you will have to be able to verify a credit history of 620 or higher, have proof of gainful employment for a certain period, and have a debt ratio that matches certain loan products. Each lender is different, but these are baseline requirements. You should speak with a loan officer to verify your status to be sure. Contact us if you would like to be referred to the best loan officers. They will guide you to where you need to be to purchase.
There are loans that do manual underwriting meaning they consider how much you are putting down and how much money you still have in the bank, not your credit score. They are typically the best options for those with low or no credit but have the income and down payment to afford home ownership. My company would be happy to guide through the buying process. Please contact us - Jimmy Conder, Conder Realty - 919.896.7131