Foxylady50, Home Buyer in Eastwick/Southwest P...

Can u buy a home with not so good credit.?

Asked by Foxylady50, Eastwick/Southwest Philadelphia, Philadelphia, PA Fri Jan 22, 2010

Can you job be secuity for buying a home.

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Kathleen Sheridan’s answer
You may need to work on improving your credit score, before you will be able to buy.

I would recommend that you start with Housing Counseling that is available at no cost through one of Philadelphia's Housing Counseling Agencies. They will help you determine if you are ready to buy. They also have some Grant Money available.

Go to
to find the office that is near you.
1 vote Thank Flag Link Fri Jan 22, 2010
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0 votes Thank Flag Link Wed Mar 27, 2013
Foxylady, I'd be happy to assist you with your financing needs. What do you mean by "not so good?" I am knowledgeable regarding credit and have an honest and experienced credit guy that could help if your credit is below 620. How much money do you have saved for a home? Do you have stable income? These are some other questions we'll have to address. Always feel free to call or email. I'd be happy to assist you. Have a good weekend! Chad
0 votes Thank Flag Link Sat Jan 23, 2010
FHA requires a minimum credit score of 620 and 3.5% down--why not visit with any qulified loan officer(s) and see what your budget can handle and check that credit score--your loan officer may have some great tips on how to improve your score in the shortest time possible--then take it from there.
0 votes Thank Flag Link Fri Jan 22, 2010
In todays market there are other ways to buy a home instead of the traditional financing route. There are some sellers that are willing to do seller financing, "Rent to own" etc. If you go these " non traditional routes, make sure you have a realtor and legal advice. You will have to find homes on the market in which these finacing options are available . Most often these home do need a little work, but with a little elbow grease you can get a good property . This is a way to purchase a home with credit deficits.
Good luck in your endeavors,

Kem Bailey Smith
Keller Williams Main Line Realty
Cell- 267-972-3879
Office- 610-520-0100
Cell- 267-972-3879
0 votes Thank Flag Link Fri Jan 22, 2010
You can buy a home without great credit - there are several options, but as a first step I recommend talking to one of the lenders below - ask Jason about FHA loans and ask Sandy about CRA loans. Feel free to call or email me with any questions.

Sandy Gibbs
Susquehanna Bank
Residential Mortgage Loan Officer
856-417-5806 Cell

Jason R. Knee
Loan Officer
TD Bank
6000 Atrium Way
Mt. Laurel, NJ 08054
856/533-2112 Direct
856/533-4804 Fax
856/266-3018 Cell
0 votes Thank Flag Link Fri Jan 22, 2010
Call me at 610-291-1460. I can walk you through what is required score wise. We can see where you stand know and see how far away you are from what is required. I have a credit optimization program we can see how you can get your score up if need be as well.

Maura McDonnell
0 votes Thank Flag Link Fri Jan 22, 2010
Depends on what is meant by "not so good." :)

Numerous lenders now have a cutoff at a 620 credit score. If you fall below this 620 score there will not be any options for standand mortgage financing. However, if you are above this score and do not have substantial outstanding collection/judegment accounts there may be something you could do.

Do you know what your credit score actually is?
0 votes Thank Flag Link Fri Jan 22, 2010
When you say "not so good" what is it exactly? You should talk with a good lender and if you need help he will tell you what you need to do
0 votes Thank Flag Link Fri Jan 22, 2010

Check with a mortgage banker to see if you qualify for a traditional mortgage.

Plan "B" is to find a seller willing to sell with "Owner Financing"

Good Luck!
0 votes Thank Flag Link Fri Jan 22, 2010
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