Home Buying in Midland>Question Details

Sarahotto56, Home Buyer in New York, NY

Found a home I really would like to purchase. It it $12,800. I don't have the best credit and wonder where I stand. I have a down payment.

Asked by Sarahotto56, New York, NY Wed Apr 24, 2013

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If you have credit issues, having a good down payment will likely not be enough to help you get a loan, even at a purchase price of $12,800. The truth is, you may not be ready to buy this home. The only way to know for sure is to consult with a lender but, even if you do not qualify for a loan right now, that doesn't have to be the end of the story.

There ARE certain lenders who are ready and willing to work with you on repairing your credit so that you CAN qualify for a loan. They've dealt with a LOT of people in your shoes and they are not there to judge you. If you do nothing, you'll likely still be in the same situtation a year from now, so so don't give up! I've seen people succeed, and you can, too.
1 vote Thank Flag Link Wed Apr 24, 2013
A repo? Oh...you're talking about a car? That makes sense now. Sorry - I thought you were asking about real estate. I couldn't imagine land - with a home - that would sell for so little money.
0 votes Thank Flag Link Thu Apr 25, 2013
Professionals are ungodly rude. Ever hear of a repo?????????
0 votes Thank Flag Link Thu Apr 25, 2013
Probably nothing like your Texas mansion:)
0 votes Thank Flag Link Thu Apr 25, 2013
It must be rather small, and have a half moon on the door.
0 votes Thank Flag Link Thu Apr 25, 2013
What does a $12,800 house look like?
0 votes Thank Flag Link Thu Apr 25, 2013
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