A proven credit restoration company can help restore your credit, increase your score, and get you on your way. The process can take upto 6 months. As one of my specialties, I provide credit restoration services. I have an online video that will walk you through the process. Please feel free to visit the following site - http://www.creditrepairproof.com -
The program is prooven and amazing - After watching the short video, feel free to contact me with questions and information on how to get started in this amazing program. The proof is in the pudding. Good Luck
Certified Mortgage Planning Specialists
IMHO you should spend every moment working to repair your "horrible" credit with the money from your great job. Why is your credit horrible? Why should someone loan a large amount of money to someone with a questionable payment history? Why isn't your first thought, Hey I got a good job now I can pay off my debts?
Fix your credit and you will find that getting a loan will be easier and you will end up saving money..
Buying a home will be a huge new responsibility and you should take care of the old reponsibilities first...
IMHO, anyone who would consider someone with horrible credit for a home loan is operating under a code of ethics I don't understand. (I include the goverment) The only big picture here is greed!
Enablers hoping to profit
Told ya it wouldn't be popular, Dunes
Check out the link I've attached below to understand the importance a credit score has in terms of getting a loan. Basically there are only three things that any lender considers when reviewing a buyer making a mortgage loan application: Income- You seem to have this covered, Assets: How much cash do you have to put into the purchase and Credit- You've already admitted that this is where you're weak.
Good Luck and Happy House Hunting.
And have you considered using a credit repair company? There are hundreds of credit repair companies in the marketplace; however, most of them charge an arm and a leg and most of them are not reputable. There is one company that I have sent many many clients to because it is actually a law firm, their fees are minimal, and they do an incredible job! And there is always someone to actually speak! If you would like their information I would be glad to share it with you... simply click on my profile and email me directly.
Good credit is becoming a must. FHA is still forgiving to bad credit that is 2 years old or older meaning your last two years needs to be clean. Financing for homes, cars, etc has become harder to obtain so paying your bills and obligations on time is a must.
I would contact 3 Mortgage Consultants-- and go over the pre-approval process/ and if needed-
get you on the right track to purchase a home in 2-6 months. There are a lot of great deals out there!
With FHA/ a lower fico score is needed: 580 or higher--and only 3.5% down-payment .
Free Home Lists/ and Additional Advice: FindingTheHome.com
All the best, Kathryn
For more information contact::
720 922 9266 direct
720 981 1907 fax
Real Estate Results with Integrity
I agree with all of the post below. I think that you should try to get your credit as good as you can before you consider buying a home. Most people don't realize your credit changes on a monthly basis. That means that with some work (ie paying on time, paying down debts, paying off collections, etc) you can get your credit back.
I have some credit tips on my website, go to: http://www.leslieheldenbrand.com/understanding-credit.asp to see some great articles on understanding credit.
If you have any further questions, please feel free to contact me!
Have you spoken to a loan officer?
There are some good answers here. I wanted to state that you should sit down with a Loan Officer to see how bad your credit is. With a good down payment you may be ok? How much home do you want to buy? Do you own a home now? Are you current on Rent and or Home payments?
Many people have the misconception they have terrible credit, only to find it isn't as bad as they thought. Our recommendation is to be in touch with a couple of loan agents for their input. Hopefully you will be pleasently
Blase DeRoco with Freedom Financial has helped a lot of our clients with similar scenarios get loans. Freedom Financial is a direct lender, they can look at the big picture and get people approved that a lot of other lenders can't. Blase gets them approved and we get the fun part of helping them find their new homes. 303-680-0633 I hope it works out for you and you get your new home.
The Kinslow Team