Home Buying in 43223>Question Details

Paul Ollam, Home Buyer in Columbus, OH

I want to buy a house but my credit is poor

Asked by Paul Ollam, Columbus, OH Mon Oct 1, 2012

Got money to put down

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Answers

5
We have a program where you can lease the house you are buying (up to one year) while we help walk you through a credit cleanup program. Once completed, you would then complete the purchase of your home a traditional loan.

The program is designed for marginally qualified individuals (credit scores not significantly below current FHA required minimums).

Please feel free to give us a call for more information.

CJ Funk, Realtor
Carleton Realty
614-664-6113
0 votes Thank Flag Link Sat Dec 1, 2012
Or you could skip all the willy nilly and get in contact with a good REI or Real Estate Investor. Most likely they can get you into a house with needing a traditional mortgage. If you get with the right one then they can help to almost make sure that you can get into a traditional mortgage or re-fi within 18-24 months! What have you got to lose?! I would suggest going to http://WWW.RIGHTINVESTCORP.COM or Call 1-888-428-4013. You can get some answers and the help you need there. Even if you don't do any business with them, it's still a good place to start.!
0 votes Thank Flag Link Wed Oct 10, 2012
In today's market getting mortgage has become a bit complicated. Minimum score to get an FHA for most of the banks is 640. Some lenders may allow lower score but not many and you will have to pay extra point in certain cases. It will be a good idea to get with a lender and see where exactly your credit is and what you need to do get it at least bear minimum. There are many homes in this market also go on lease purchase, Rent to own or on Land Contract. Usually this kind of arrangements will require some sort of down payment. Let me know if you are interested in looking into lease purchase I will be happy to help you with it.
Ajay Pandya
Keller Williams Greater Columbus
614-209-2261
0 votes Thank Flag Link Mon Oct 1, 2012
In today's climate you will have to do some credit repair. Meet with a lender who will be able to show you the steps you will need to take.
The lender will pull your credit report and will discuss the items on the report, as well as the strategy to clean up the report as soon as possible. Depending on the condition of the report it could take a few moths or much longer.
0 votes Thank Flag Link Mon Oct 1, 2012
Your first step will be to meet with a lender so that we can get a baseline for where your credit is at, and why it is there. From there its possible that an experienced lender will be able to help you restore your credit over time and if more help is needed, we can get it. There is no quick fix to credit repair, depending on where you are at it could be just a few months, sometimes a year or two, it really depends on why its poor and how quickly the derogatory items can be paid off. Give me a call or shoot me an email and we can discuss further, I'll introduce you to a couple good lenders and we can see what is possible.
0 votes Thank Flag Link Mon Oct 1, 2012
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