How can I get financing with a bad credit score?

Asked by Me, Pittsboro, NC Tue Aug 24, 2010

My husband and I have both been through divorces which left us with bad credit. We both work full time and have a combined gross income of $115,000 annually. No real money to put down.

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Dp2, , Virginia
Tue Aug 24, 2010
You might want to consider doing a lease-option.
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Debby Thomps…, Agent, Wauwatosa, WI
Tue Aug 24, 2010
Me, you might want to think about finding a lender that as has or does credit counseling. They will help you determine what is the best way to go to improve your credit. Their is loan programs out there that would be 3.5% down. You could ask the sellers to pay up to 3% of the closing cost. It isn't as easy to get credit as it once was. A lot of the 100% financing is gone. But I would start witha lender you can trust and work from there.
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Drew Ludlow, Agent, Apex, NC
Tue Aug 24, 2010
It depends upon what you consider bad credit. If you have below a 580, you won't get anything. Sometimes you can get anything if you are below 620. It depends upon other factors, such as debt and income, too.

Seak with a qualified lender to assess your position. Then, work on your credit.
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Scott Miller, Agent, Boca Raton, FL
Tue Aug 24, 2010
Start repairing your credit immediately. You're not going to qualify for anything with bad credit:


Scott Miller, Realty Associates, Boca Raton, FL
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