I'm sorry if I sound rather obnoxious with my advice, but my polite approach doesn't seem to work when I answer these "bad credit" questions here on Trulia. Besides, I've already been down this road. When I blogged and participated in online forums and chats during the BOOM (Craigslist Housing forum, look me up: tcurranmortgage), I held the line on my opinion: buy a home you can afford with a 30 year fixed rate payment. I never wavered from that opinion and I won't waver from this one today.
Take your time to put your finances in order. Learn what a responsible HomeBuyer needs to qualify for and pay for a mortgage loan. Then work on those things---Income, Assets, and Credit---so you can make your dream come true the RIGHT WAY.
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.
Wishing you all the best,
De Vonte Williamson, LSA
Proudly Serving Long Island
Coldwell Banker Residential
"I Stand Behind Getting You Results!
You are very close. If you can get it to about 530-540 range. I know a lender that would able to help.
Do you have a good size downpayment saved up?
You can email me at email@example.com
JP and Associate
You may not want to hear this, but..you shoud really be concentrating on improving your credit before even thinking of trying to borrow money to buy a home.
Come up with a plan............and have your goal in mind.
Speak to a loan officer to find out what steps you need to take to reach that goal.