I messed my credit up when I was younger. My credit score is 0. I want my own house sooooo bad for my children. How do I do it, with having the bad credit? I have always paid my rent and all that and have rental history, but so far, that's not doing me any good. ANYONE OUT THERE WANT TO HELP A FAMILY IN UPSTATE NEW YORK?????
2006-07-20 06:51:01 · 7 answers · asked by newyorkjenna 2 in Home & Garden ➔ Other - Home & Garden
just pay for it cash. if you need a loan, do a no doc loan. talk to reputable real estate broker. theyll walk you through it. but dont worry, your credit wont matter one whit if you can literally pay for it cash. credit only matters if you need a loan, and even then , theres ways around it.
2006-07-20 06:55:18 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Double check on your credit score. My wife and I thought our ratings were going to much worse than they actually were.
Also, if you have enough money for a sizable down payment, that will work in your favor.
Finally, there is very little harm in asking finding out what kind of loan you can currently get. We just bought a house and our broker told me that the mortgage market has become much more competitive in the last few years and that people get loans today that never would have gotten loans 10 years ago. Find a mortgage broker you trust and work with them, I bet you will find things are not as grim as you think they are.
2006-07-20 07:53:25 · answer #2 · answered by Wundt 7 · 0⤊ 0⤋
Save up and buy your house for cash. No one can stop you.
Or - build up your credit rating.
Or - find a banker who's willing to work with you, pay through the nose a userous percentage, and end up paying 2 1/2 to 3 times what the house is worth before you're doen.
2006-07-20 06:55:24 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Check with the county tax office. I know of plenty of realiters that buy houses that were taken by the tax office because they couldn't afford to pay the taxes. All you have to do is pay the taxes that are owed on the house, and if they can't pay it back after a reasonable amount of time, the house is yours for the very low price of the taxes. ( example, a $200,000 home? taxes due, $3,000? you just bought it for 3,000 dollars) check it out!
Also try for sale by owner deals, or rent to own homes.
2006-07-20 07:00:48 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If you need to get a loan you really should work on fixing your credit first. Otherwise you'll be paying HUGE interest rates.
2006-07-20 07:02:24 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Find a house that offers owner financing.
2006-07-20 07:06:32 · answer #6 · answered by Someone 3 · 0⤊ 0⤋
first time buyers also habitait land contract
2006-07-20 06:57:00 · answer #7 · answered by Anonymous · 0⤊ 0⤋