Hey there,
I see that Steve Ferguson has replied. He is a great resource for getting your qualification questions answered. If you're looking to see where you stand, definitely contact him. After you speak with him, I have some more information about purchasing with Owner Finance (which means no credit check involved). Between the two of us, you should have several options.

As for Los Indios, there are a few options that come to mind for your situation. Some are readily visible, but others require a little digging and expertise.

I recommend starting with Steve and then getting in touch with an agent who specializes in owner finance to weigh all your options. Good luck, and hope to catch up with you soon.

Iggyears, you need to get with a good lender to see where you stand overall...credit score, income, debt, job history, etc. Call me if you'd like some free, professional assistance. My contact info. and references are to the right----just click on my face or name. Joe

Alot depends on how bad the credit is. We have lenders that finance down to a 600 fico but the interest rate is higher than if your fico is 620. I would find out how low your credit scores are and see if a credit repair company can help. We have the ability to pre qualify you and have a credit repair company that we consider top notch. Let me know if we can help.

I work with clients with all types of credit and I am more than happy to see what can be done with your current credit situation. My website is designed to answer most of your questions and you are welcome to call or email for further information. Thank you and I hope to speak with you soon.

Steve Ferguson

In our current financial market, it is difficult to get a loan with "bad credit". FHA and VA will be the most flexible, but for FHA you must have a credit score of at least 620. If you have 10% - 20% for a downpayment, you may find a home with owner financing, but be prepared for higher interest rates.

I have had clients that thought their credit was not good enough to purchase, but found their credit score to be better than they had guessed, so be certain of your credit situation -- with a 620 score, FHA will finance with only 3 1/2 % down payment. You may also qualify for some special programs through the City of Austin that could help as well.

Best of luck to you. Let me know if I can be of assistance.

Regards,
Donna Goode
PrimeAustinProperties.com

Iggears:

Hello. Great area of the real estate market in Austin. Los Indios has a lot of really great features and its locaiton is top notch.

Your question has a it depends answer. It depends on what the scores are, what the reasons the credit is low, job stability, downpayment, etc.... The best an easiest thing to do is to talk to a REPUTABLE lender and get an accurate assessment of your particular situation.

Please let me know if you would like a mortgage contact. I would be glad to put you in touch.

Thanks and good luck!

Ritch Haenke, Realtor
Coldwell Banker United
512.633.3909
rhaenke@sbcglobal.net