Mr. & Mrs Pe…, Home Buyer in Philadelphia, PA

i am a 1st time home buyer and i know my credit isnt good. how will my credit effect me buying a home?

Asked by Mr. & Mrs Pedroza, Philadelphia, PA Tue Jan 29, 2013

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Michael P. C…, Agent, Philadelphia, PA
Sat Nov 30, 2013
Credit is over rated, we can help you buy a home today. Michael Cohen 610-642-0347
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David Siegel, Agent, Boston, PA
Tue Jan 29, 2013
if you pay cash money it doesn't matter how bad your credit is. other than that yes.
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Mr. & Mrs Pe…, Home Buyer, Philadelphia, PA
Tue Jan 29, 2013
thank you everyone for you help
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Ruth and Per…, Agent, Los Gatos, CA
Tue Jan 29, 2013
Dear Pedroza

Thanks for your question.

If you scores are below 600 it will be tough but still doable.

Your Credit score determines how Effectively do you handle Credit and

A low score flags a Bank that you miss payments, late many times, or
You do not meet your monthly obligations.

Hence, you Rate for loan can be higher or it will be very tough to get a loan.

When you buy a home with a loan, there are many other components, such as
Paying taxes, mortgage interest, utilities, property maintainence, yard care etc.
Along with insurance.

Talk to a good local mortgage banker to see what can be done.
Prudent to maybe address the issues associated with improving your credit.

Best regards
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Josh Barnett, Agent, Chandler, OK
Tue Jan 29, 2013
Without good credit a lender cannot prove to secondary investors that the money is deserving of your loan.
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Ian Perler, Agent, Philadelphia, PA
Tue Jan 29, 2013
There are many options out there that might work for you depending on your credit score. I would be happy to recommend some mortgage professionals that could help you. Please call or email me for more details.


Ian Perler
Star Real Estate Group
(203) 770-3803
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