Home Buying in 32818>Question Details

sheila.louis, Home Buyer in 32818

My husband and I would like to buy a home but our credit scores are poor. We make 57,000 a year but do not know where to begin, please help.

Asked by sheila.louis, 32818 Tue Nov 27, 2012

Help the community by answering this question:


First thing you should do is meet with a loan officer at a local bank to find out what your options are. Another option would be to contact a mortgage broker. Mortgage brokers have access to multiple different lenders as well as know all types of different programs that may work for you.

Sometimes, a good loan officer or mortgage broker will give you advice to raise your credit score, if you are unable to purchase right now because of the poor scores. There are a lot of easy things that can be done to help improve low scores, so that if you can't purchase now, you will be able to purchase in the near future.

Good luck!
1 vote Thank Flag Link Tue Nov 27, 2012
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, therefore do visit with any licensed loan officer; a determination on qualification can only be made after he/she reviews your financials in entirety...
1 vote Thank Flag Link Tue Nov 27, 2012
You should start by meeting with a local and trusted loan officer who can porequailify you at no cost and let you know what type of mortgages may be available.
1 vote Thank Flag Link Tue Nov 27, 2012
Unless paying cash, since nothing closes without the loan, best to contact someone like me in advance to get pre-qualified.

Review these loan programs here below and then call me with the ones you are interested in learing more about:


1 vote Thank Flag Link Tue Nov 27, 2012
By all means meet with a loan officer but since you already know your scores are poor that probably won't help. I suggest doing a rent-to-own or lease/option (two names for the same thing) for a time period that will give you time to improve your credit enough to qualify for the mortgage to buy the house.

As you might suspect, I do this and would be glad to talk with you. E-mail George at praycf@juno.com.
0 votes Thank Flag Link Thu Nov 29, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer