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Whether or not a person with "bad" credit can buy a home depends on a few things.
No matter WHAT a person's credit is, cash nearly always works.
If the person with "bad" credit wishes to buy via a mortgage loan, then whether or not he or she will be able to do so depends on a number of factors - including how "bad" "bad" is (what the credit score is, specifically), how much cash the person plans to put down, etc. etc.
Do you have a real estate agent assisting you, yet?
If not, give us a call and we will put you in touch with someone who can assist you with all of your questions and throughout your search for and purchase of a home.
We can be reached at 312.242.1000.
Thank you for your post!
Bad is a relative term. Your first step should be to speak with a lender to figure out where your credit is exactly. Credit is one of the most important factors when purchasing a home because it allows the lender to make an educated decision on the level of risk they are taking when lending out their money. Credit scores are used to determine the likelihood of you paying the debt based on your previous financial patterns of paying others. We offer a free pre-qualifcation process as well as a program that can help you to restore and rebuild your credit if you fall into this category. If you would like more information, please feel free to give me a call to discuss further.
What I would do is get in contact with a lender and have them put you on the right path to improve your credit. This way you will have an improved credit score and be able to afford a place in no time.
Please be sure to consult a real estate attorney before signing anything out putting any money down on a new home.