Home Buying in Greensburg>Question Details

Looking-for-…, Home Buyer in Greensburg, IN

I am newly married and my husband and i are trying to get out of our apartment to buy a home but i have no credit, and he has a low score.

Asked by Looking-for-home, Greensburg, IN Tue Feb 15, 2011

I have just graduated and have no credit, we've tried to get a loan and have had no luck, is there a way we can get into a home for no money down with our bad credit?

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I strongly urge you to contact a local lender, and if nothing else, start with your bank as you already have a professional relationship with them. They will be able to sit you down, show you your scores, what if any are your options. More importantly, they can tell you what to do to improve those scores, so that in the future home ownership can become a reality.

In the mean time, while you are working on your credit you two can both save money towards your downpayment as well, killing two birds with one stone. Remember, anything worth having, is worth working for.

Wish you the best of luck.
Spirit
2 votes Thank Flag Link Tue Feb 15, 2011
Hopefully in talking to the lenders recently, they spent sometime talking to you about how to build up your credit and how to turn your low credit score into a higher score. If not, those are questions to ask an experienced lender. You can certainly try to find a property that the seller will carry the loan for you or a lease with an option to buy. Both option may however, require some sort of down payment.
Good Luck,
Vicki Holmes
1 vote Thank Flag Link Tue Feb 15, 2011
Have you been looking for a loan?Do you need an urgent personal or business loan?contact Dennis Hopkins Finance Home he help me with a loan of $300.000 some days ago after been scammed of $2500 from a woman claiming to been a loan lender but i thank God today that i got my loan worth $300.000.Feel free to contact the company for a genuine financial service. Email: dennishopkins_financehome@live.com or dennishopkins69@yahoo.com or http://www.dennishopkinsfinance.de.vu Tel: USA +12404374240 .He is a trust worthy man.
0 votes Thank Flag Link Thu Oct 23, 2014
I can help you with a pre- approval. Give ma a call so we can go over some of your goals

Dustan Ingram
Sr. Loan Originator
NMLS# 712331
First Option Mortgage, LLC

8888 Keystone Crossing, Ste. 900
Indianapolis, IN 46240
NMLS# 123411
317-713-9500 Business
317-713-9535 Direct
317-713-9501 Fax
0 votes Thank Flag Link Thu Oct 23, 2014
Looking-for-home,

I have included a link below to a very short YouTube video I created specifically about credit scores and mortgages. You may want to take a look at that as well as considering some of the information below.

Thank you,

Rob Spinosa
rspinosa@rpm-mtg.com
0 votes Thank Flag Link Tue Feb 15, 2011
Unfortunately, you need to have decent credit in order to buy a home. This will mean that you need to start establishing credit. (and your hubby needs to improve his credit). In order to get credit, you need to obtain a line of credit, use it, and pay it off to show you are reliable at paying your bills.

If you can't get a regular line of credit (like a credit card) then you can ask your local bank about a secured credit card. For more on this go here: http://www.bankrate.com/finance/credit-cards/10-questions-be…

Also, talk to a lender and find out what your husband's credit score is, and what he needs to do to increase it. It could be as simple as paying down some of his debt.

Good luck to you!
0 votes Thank Flag Link Tue Feb 15, 2011
You need clear your credit issues, and save towards 3.5% or more down payment . Could take several years obtain your goal, however when you purchase a home you receive annual tax benefits AND no longer making landlord rich.

Or have a family member you lease from them in future to purchase.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Tue Feb 15, 2011
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