I have bad credit but a good paying job i just started i want my own home how can i do it single family 1 2 or 3 bedroom i d c

Asked by Angelito85, Lawrence, MA Sat Nov 12, 2011

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Andrew Adams, , 01915
Sun Nov 13, 2011
Don;t expect lenders to be lining up.

Bad credit and recent employment do not make a strong credit profile.
1 vote
Irina Karan, Agent, Aventura, FL
Wed Apr 4, 2012
Normally, one month on the job is enough, unless there was a gap before this job. Then, you will need to establish a longer employment history. Bad credit is fixable. If you go to see some good mortgage professionals, they will tell you how to fix your credit, but it might take time and perseverance. You'll also need to budget for things that come with buying your home: downpayment, closing costs, home insurance premium, inspections, etc.

But, think about it this way - it will be worth it!

Irina Karan, CDPE
Beachfront Realty, Inc.
0 votes
Territory.c…, Agent, MA,
Tue Nov 15, 2011
You will probably have to wait a little longer to build back your credit and show the stability of your new job. Bank requirements are very strict now and even though you are getting things back on track it might not be enough just yet. Talk to a lender and mortgage broker before starting the search. It will help manage your expectations before getting your heart set on a place
Web Reference:  http://territory.com/
0 votes
Kevin Vitali, Agent, Tewksbury, MA
Mon Nov 14, 2011
Bad Credit and a recent job start is a tough one. Either alone are difficult never mind both combined. Talk to a loan originator. Many times they can make suggestions that can seriously impact your credit score in a short amount of time.
0 votes
Jim Duffy I…, Agent, Walpole, MA
Sun Nov 13, 2011
You will need to get owner financing
0 votes
Judy Boyle, Agent, Marlborough, MA
Sun Nov 13, 2011
Hi Angelito,

The fact that you believe you have bad credit AND just started your job may make it difficult for you to obtain a mortgage AT THIS TIME. I definitely recommend you call a lender, however, to have him/her look at your situation. At a minimum, he/she will counsel you on what you need to do to improve your credit score while you get a few months in at your job. This way, you will be in a great situation to buy in, say, six months!

Good luck!
0 votes
John & Miche…, Agent, Reading, MA
Sun Nov 13, 2011
I would recommend calling a loan officer. They can review your financial situation and provide advice from there.
If you need any recomondations , let us know, we are happy to help !
0 votes
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