Yes, there are down payment assistance programs available. Now, you typically need a score of 620+. Since you're pretty close, we just need to get you connected with a great lender who can help get you to the 620.
To help increase your score will first depend on what's hurting it. Since you lease is up in about 4 months, you have time, but you have to act quickly.
Give me a call, text or e-mail me at email@example.com. I'll be happy to help. Since the seller pays my commission, my assistance to you is FREE :)
Syan Real Estate
Call/Text: (505) 730-8181
We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. This is BAD credit. If you are one of the folks affected by this terrible economy, you have a low credit score and you have a dream of buying a home, here's some simple advice for you.
It is unlikely you could be approved for mortgage financing with that credit score at this time.
Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.
First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.
Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.
I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website.
Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE.
The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.
The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.
*If you thought my answer was helpful, please give me a â€œThumbs Upâ€ or â€œBest Answer.â€ Thanks!
I am a mortgage lender and i work daily with people that are in your same situation you are not alone, and yes there is a lot of things that you can do to improve your credit score if you are interested in working with a credit expert pleas give me a call i have people at your disposition that will work with you all the step of the way. if you are still interested i will customize a plan for you.
Senior Loan Officer
614.324.4700 Ext 1561
There are programs out there for everyone. Not being a mortgage expert I would suggest that you contact one and see if they can get you what you need. Please feel free to email me if you'd like a recommendation. Also, there is the availability of owner financing to think about too.
Hope that helps!
I can send you the names of 4 good mortgage venders who can try to do for you exactly what you need.
Please email me at: firstname.lastname@example.org and I will send you the names. Or call me at 505-822-8864 or 800-888-3581 and I will get you their names.
Max Sklower owner of Broadcast Realty, LLC 3620 Wyoming, NE, Albuquerque, NM 87111
This others are correct when they say that you need a 620 credit score but that is your mid-score so maybe you are alright and also, maybe your score has gone up depending on how long ago they pulled it. There is also a program called MFA that gives down payment assistance to those that qualify and do not have the money for a down payment so that may be an option to help you out. I have lenders that offer this program.
Feel free to give me a call at 505-507-5091. I look forward to talking with you.