Financing in Choctaw>Question Details

Jerry Smith, Home Buyer in Harrah, OK

i have bad credit, is it going to be possible to buy?? im looking at a hud home tht is only 53000 and i can put 5,000 down what r my chances?

Asked by Jerry Smith, Harrah, OK Tue Aug 7, 2012

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John Phillips’ answer
I am sorry but there are only 2 ways to buy a HUD Home:
#1 all cash
#2 you have to have a non conditional approved mortgae to be able to buy

HUD will not make loans nor do they finance their own homes or do a lease purchase:
0 votes Thank Flag Link Tue Aug 7, 2012
How bad is your credit? I work with a few lenders that can go as low as a 580. If it is less than that, your best option is to focus on building your credit before trying to buy a home. You would be better off to save more money or if you get your credit built up more apply for a USDA Loan or a community action program.
0 votes Thank Flag Link Tue Jun 17, 2014
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