I suggest you work on your credit. These realtors will tell you yes, but my husband and I have been dealing with bad credit (IRS debt etc. for several years, thankfully over!) and no way, no how on tradition lending.
We used a local company called Credit360consulting that was referred to us by our agent a year or so ago. They are amazing. (and cheap.. you only pay a small amount down, we paid $99.00 because our realtor TRISH JOHNSON [email@example.com] referred us to their program and only paid for what they removed after that (also very reasonable). Trish is an expert at owner financing pretty much anything. She is with the Trolley Team and Jay & his wife Diana Espinoza run Credit360 Consulting. (firstname.lastname@example.org) If you decide to give them a try, you can also say I referred you (Jeanene Lambert).
It only took them a couple of months to remove so much stuff off my credit. I literally saw our scored rise from the mid 500's to upper 600's in a couple of months. I now have them working on my kids credit too. (my youngest son just was approved on his first home and my other son is having his worked on as we speak). I tried another company a few years ago that was a waste of time/money.. these guys I highly recommend.. ditto to all you other realtors reading this!)
Take care and good luck!~
My guess is though, that if you have a ton of debt, you will be denied, but it is best to ask a lender first to see where you stand.
First thing any potential buyers should do (including you and your husband) is speak with a local lender, get pre-approved. Yes, you will need to work on your credit scores, but a good lender will help. Once you know where you are at, you can work on increasing your scores so that home ownership can be part of your future.
Spirit Messingham, PLLC
3rd Generation Full-Time RealtorÂ®
Tierra Antigua Realty
Direct (520) 471-6900
Fax (866) 365-5208
Let me know.
It would be best to consult with a local lender who can review your entire financial picture and make recommendations from there.
I would be happy to refer you to a trusted lender with plenty of experience in these types of situations.
Modern Home Specialist
Keller Williams Realty