Home Buying in Minnesota>Question Details

Roxanne Veal…, Home Buyer in Minnesota

IAM ON SS AND SECTION WITH BAD CREDIT I GET 1600.00 A MONTH CAN I BUY A HOUSE?

Asked by Roxanne Veal Davlin, Minnesota Wed Nov 28, 2012

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The bad credit is a concern, but I'm often surprised at the number of people I talk to who think they have bad credit but it's actually acceptable (I'm less surprised when it's the other way around). You meet with a loan officer and find out if you can qualify and for how much. If you do need to improve your credit, most lenders can provide some guidance, or refer you to someone who can.
0 votes Thank Flag Link Tue Apr 16, 2013
Not just the credit alone with a fixed income I could see DTI issues coming into play if you have large amounts of debt. Really, the only way to know is speak with a good loan officer. If you are willing to do what is necessary to improve your credit there is always government programs out there for housing.

~Chris
0 votes Thank Flag Link Wed Nov 28, 2012
If you have bad credit and want a mortgage then I'm sorry but you won't qualify. See link below for more information.
0 votes Thank Flag Link Wed Nov 28, 2012
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