i dont have ok credit can i get financed for a home

Asked by Rosa Vargas, Port Arthur, TX Tue Jan 15, 2008

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Bruce Lynn, Agent, Coppell, TX
Tue Jan 15, 2008

Good question. It will just depend on exactly what your credit score is, how much home you want to purchase and how much down payment you want to use. There are many factors that are evaluated when you apply for a loan. If you need a good referral to a lender who can best assist you please send me an email or give me a call.
Web Reference:  http://www.teamlynn.com
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T.E. & Naima…, Agent, Dallas, TX
Tue Jan 15, 2008
Getting financing for a house is not based just on credit score, many factors are taken into consideration such as (DTI) debt to income ratio, stable employment.

When the credit score is low, your best bet is doing and FHA loan. It's a government insured loan.

Your first steps is to get in touch with a mortgage lender that can pull your credit and your full loan application and then counsel you on the best thing to do. It could be that you should continue renting and build your score better for a few months and get a better deal.. etc.

Feel free to call me and I'll be happy to help you.
Web Reference:  http://www.sumnerrealty.com
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Michael Krot…, Agent,
Tue Jan 15, 2008
Hi Rosa,

Although great credit is a huge plus when it comes to buying a home, it isn't always a limiting factor. There are many loan programs available for all different kinds of situations and I would recommend going to your local bank to start with and see what they can qualify you for.

Also consider talking to a mortgage broker who will be able to search loans offered by many different companies to see if there is something that fits your needs.

Best of luck in your home search!
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