Home Buying in Santa Teresa>Question Details

gmontal3, Home Buyer in Santa Teresa, NM

I have bad credit after my divorce, but will a $20k down payment get me a house?

Asked by gmontal3, Santa Teresa, NM Fri Feb 15, 2013

Help the community by answering this question:


There are programs in your area that allow you to buy a home with a above average down payment, but before you even start looking at homes first start looking for a loan, that way you can see interest rates, payments and decide how much you want to invest in your new home, start by contacting local area mortgage companies to see what is available.
0 votes Thank Flag Link Thu Apr 25, 2013
Having gone through the same nightmare myself, I found it better to open the closet, bring out the dead and bury the bones. With that amount of money, I am pretty sure you can clean up the mess. But that's just what I did may have a different opinion. Please take a look at the blog I wrote "CAN I BUY A HOME WITH BAD CREDIT". I hope it helps you.

Best of Luck!


Web Reference: http://www.AFN-loans.com
0 votes Thank Flag Link Fri Feb 15, 2013
Depends, there are other factors involved that determine mortgage qualification, therefore for a personalized answer visit with any licensed loan officer; be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously.
0 votes Thank Flag Link Fri Feb 15, 2013
You might be able to get a mobile home with that. Work with a local lender to see if you'd qualify.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Fri Feb 15, 2013
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