can you buy a house with bad credit ?

Asked by Felicia, 34984 Thu Jun 12, 2014

my credit score is 588

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Dell Kaser, Agent, Centerville, OH
Thu Jun 12, 2014
The first step is to get some help, call a REPUTABLE loan officer, sit down & discuss your financial picture. The agent will either help you make a plan of attack or refer you to a community service person (Like Lutheran Social Services) to help you lay out that plan to extinguish those debts & get you on your way to home ownership.
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Robert Slatt…, Agent, Kirkland, WA
Thu Jun 12, 2014
Lending guidelines differ based on your region, but in general it's a good idea to shore up your credit issues before you buy a house. Typically, bad credit is an indicator that other aspects of your budget are out of balance and need to be corrected. There is nothing wrong with renting for a few years while you improve your financial situation. As Dave Ramsey says: If you buy a house when you're broke, Murphy will move in. A furnace will go out, the roof will develop a leak, or other expensive issues will pop up at the absolute worst time. Rent for a while, build your credit scores, and save up a 20%+ down payment so you can obtain a reasonable home loan.
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lori wenrich, Agent, Crestview, FL
Thu Jun 12, 2014
Most loan programs require a 640 and above credit score but there are lenders that will help you with getting your score higher:)
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