has anyone ever got a loan for a house with poor credit.?

Answer 1

Yes, my mom did but she had good income to back it up.

Answer 2

I will give you a qualified or comparative yes.

Anyone can get a loan for any house provided they put enough money down (look up hard equity lender). Now, is it wise to do that - probably not.

The deeper question is, how bad is your credit? This leads to many follow-up questions:
Why is your credit like that, should you really be buying a house?
Do you have a good job and money to put down?

Bad credit is relative. Just b/c your normal neighborhood corner bank wont lend you the money doesn't mean you can't get a loan to buy a house.

I'm a mortgage broker and I've seen many people with bad credit get a loan for a house. I've also seen many people with bad credit NOT get a loan.

Again, the short answer is certainly YES. But, you need to dig deeper and talk with a qualified mortgage consultant. Ask your Realtors and title companies for recommendations.

Regards,

Joe...

Answer 3

My husband and I just went through this. My husband as poor credit from mistakes made when he was young. We couldn't get approved from a A type lender, like a regular bank. So we went to a mortgage broker, that has access to a couple hundred different lenders. He got our information and found us a couple of different B type lenders and we got our mortgage. The only catch is that our interest rate is slightly higher but since we are only on a 3 year term after our 3 years is up we will be able to go to a normal bank and get a lower interest rate because we will have had 3 years of good payments on our new mortgage. So to make a long story short try going to a mortgage broker they have more options then just a bank does. Good luck and I hope this helps because it really helped us out a lot!!!

Answer 4

As long as you income, and or equity to back you up, you will be able to get a loan. You won't get the best interest rate available, but you will get the loan. I've done it for a few people and it has always been a success. Just go to a mortgage broker and see what your options are.

Answer 5

You bet! There are a lot of programs available for someone who is "credit challenged". Sometimes the programs are even government subsidized. Check with your local mortgage broker. I have attached a couple articles on buying with poor credit.

Answer 6

My husband is a loan officer and he would be willing to see if you qualify for a loan. If you want the number just email me and I will give it to you.

Answer 7

No.