Stablize yor credit, job, pay your rent on time , never be late,
Find a good lender to guide you through the process, and a good Real Estate agent
to help as well , one day at a time and you will be able to buy,
Good Luck God Bless
I am in touch with a private lender ,,,, Interest rates with him are very high
and I only recommend if it is the only option
let me know if you are interested and where are you wanting to purchase a home , what area of Houston, I am in he North east Humble, Kingwood, Atascocita, Porter, Crosby
And what is your price range.
let me know what you think ? Do you have good job history /
Here is a start.
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
9yr Veteran navigating Mortgages for wonderful clients.
You possibly could get a loan with more money down, say 30% or more. Maybe a higher interest rate than those that have good credit. You could get someone to co-sign or you might pursue a owner financed home. All options are not the best, but they are options. Or course you could simply pay cash.
Your low credit scores show lenders you have had issue with credit provided to you in the past. This is truly the only way they can gauge how your going to do in the future. Once you get control of your finances, your prospects for getting the A+ rates for loans will appear.
If those high interest rates or tons of money down don't sound good, work on those credit scores and get them up. A good lender can assist you and explain how you can work on this. Don't pay anyone to magically fix your scores. It takes time and some money to get these items fixed.
Bernstein Realty, Inc.
So-called "credit repair" operations usually charge a fee to do what you can probably accomplish on your own. There are also some Realtors who offer such a service at no cost. Please don't pay anything to improve your credit score.
Under no circumstances should you consider leasing with the option to buy, or "rent to own." These transactions are skewed 100% in favor of the property owner, and can cost you thousands. If such an "opportunity" presents itself, turn and run.
I know that this is not what you wanted to hear ... but in today's market, with far more buyers than sellers, credit history is a vital component of the process. Your time will come ... hang in there. I wish you well.
I would say start working on everything at the same time. Start working on fixing your cash flow, cleaning up your credit, looking for alternative home buying options (like owner financing, co-borrowing, loan assumptions) that way you are getting yourself a home and getting yourself in a position where you can get into the best mortgage on a refinance as well.
Keep in mind you will still need a doe payment and money to pay closing cost on the loan.
The Michael Group
RE/MAX Real Estate Associates
Good question! Our mortgage folks on Trulia may be able to help you depending on your situation now. However, I can highly recommend a guy/company who helps only those who will be able to purchase a home in 6 months, if they follow his plan. He is NOT a scam and he will let you know up front if he can't help you within that time frame. Let me know if you'd like his contact information.
All roads lead to establishing a good credit history.
There will be temptations that appear as though you can circumvent this requirement, (they are Rent to Own and lease Option) but they will prove to be traps and they will leave you poorer than when you started.
If you need help developing a plan, drop in on a local lender for a consultation or I can send you a DIY plan. The latter is not the best option.