Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Financing in Fannin County : Real Estate Advice

  • All0
  • Local Info0
  • Home Buying0
  • Home Selling0
  • Market Conditions0

Activity 2
Gypsemamma, Home Buyer in New York, NY
Sat Jul 9, 2016
Gypsemamma asked:
I receive SSI my credit score is about 480 can I get financing for a home?
0 votes 0 Answers Share Flag
William Pola…, Real Estate Pro in Suwanee, GA
Mon Aug 19, 2013
William Polack answered:
I'm sorry for your loss. I'm hoping your husband left you some money from life insurance. If he did, DO NOT use it for buying a house. Keep that to live on.

When buying a house, a co-signer is only used for increasing your ability to borrow more money or to have assets for down payment. It will not help you to buy a house if your credit is bad. You have to qualify on your own.

I would recommend a lease purchase to give yourself time to fix up your credit. This allows you to lock in your sales price now in case prices go up (if Obamacare goes into effect, housing prices will drop due to unemployment from closed businesses unable to pay for health coverage).

Other options may include private money, though the rate is twice as high and it costs more out of pocket.

Good luck!

Bill Polack
404-644-3295
... more
0 votes 1 answer Share Flag
Search Advice
Search
Financing in Popular Cities in Fannin County

Followers

101