Home Buying in Marrero>Question Details

Kendra Gomez, Home Buyer in 01741

My husband and I trying to buy our first home. My score is 555 and his is 520. We are looking to buy in Lafitte, La. & need financing. Please

Asked by Kendra Gomez, 01741 Mon Aug 9, 2010

help.

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3
Kendra - I really have to second what Don said.

What you need right now is not financing, but to work on those scores & repair that credit..... come up with a budget to get out of debt, and save money........ and a way to get those scores up. Saving for a down payment, as well as having some savings as a cushion, is really important, as there is more to home ownership than just paying the mortgage and taxes.

Don't even try to put yourself on financial thin ice until you have a solid foundation.


Best wishes........
0 votes Thank Flag Link Mon Aug 9, 2010
Work on your credit scores and your financial management skills first. There will still be plenty of homes available in 1-2 years. At that point, if you work on your credit scores and spending patterns, you shouldn't have as much difficulty as you're having now.
0 votes Thank Flag Link Mon Aug 9, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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Have you already spoken with a bank lender? There are several good mortgage brokers on this website. Also, call around to different banks and begin the home loan process. You may find some difficulty obtaining a reasonable mortgage with lower credit scores, but dont give up!! A lot of lenders can give you ideas on how to begin a repair process on your credit!!

Best of Luck!!
0 votes Thank Flag Link Mon Aug 9, 2010
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