Mary, Home Buyer in Immokalee, FL

can I apply for a house if I have bad credit and I have the down payment?

Asked by Mary, Immokalee, FL Thu Jul 1, 2010

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Marlene Bien…, Agent, Tallahassee, FL
Thu Jul 1, 2010
If you have bad credit it mat be difficult for a bank to loan but you should consult with a mortgage broker and explain your situation and let them run your credit and they can tell you exactly where you are.

Good luck Mary.
3 votes
FSBOsuccess, Home Seller, 28590
Thu Jul 1, 2010
If ou have bad credit, you should not be allowed to get a mortgage to buy a house. Bad credit means you are not responsible with your finances and credit. People with bad credit getting mortgages is one of the PRIME reasons we are in our current housing mess!
1 vote
marys_crew, Just Looking, Immokalee, FL sweetheart must of been born with a silver spoon in ur mouth...must be nice to have so much money you feel free to judge doont have the right to say that to ppl and fyi just because somenone has bad credit doiesnt necesarrily mean they are just means they are on hard times so i sure hope u r not a realestate agent because you'd sure make a p iss poor one..judge not sweetie lest yee be judged
Flag Sat Jul 6, 2013
Ken Frank, , Bolingbrook, IL
Wed Jul 10, 2013
It depends on what you mean buy bad credit I have lenders that go all the way down to a 600 credit score. I am a Broker give me a call or shoot me a email . 630-880-7467. Have a Good DAY!
0 votes
Ken, Maybe you can help, my credit score is 563, my dad who is 70 has a 633. He is on a fixed income and I have a job that I have been at for 12 years. We enough to give on a down payment, there is a house we have been looking at that his $69,000. Is there any chance in going with your firm, or is our credit still that bad.

Flag Mon Feb 10, 2014
marys_crew, , Immokalee, FL
Sat Jul 6, 2013
best of luck to you mary dont let that judgemental comment sway you from trying
0 votes
Alma Kee, Agent, Tampa, FL
Fri Jul 2, 2010
Hi Mary,

You may be able to find a loan shark (hard money lender) if you have 50% down. You will pay very high fees and a high interest rate, too.

It may be better for you to get working on your credit history. Try he's sincere and you can take a Financial Peace University class to help you get on the road to fixing the credit.

Good luck,
0 votes
Don Tepper, Agent, Burke, VA
Thu Jul 1, 2010
You certainly can "apply"--make an offer--on a house. However, if you have "bad credit" you won't be able to get financing for it.

Check with a mortgage broker or loan officer to determine just what your credit score is. And to determine whether there are any programs that you might qualify for. But if you truly have "bad credit," there won't be any.

You might consider owner financing or a lease-option instead.

Hope that helps.
0 votes
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