were can a person with bad credit get help to buy a home need a down payment?

Answer 1

What is your credit?

Bad can be a relative term.

Have you tried FHA or any f your State, City or County programs?

Have you tried http://www.NACA?

Answer 2

There are banks/lenders that will give a home loan to people with bad credit but they do so at an extremely higher interest rate so you end up owing alot more in the long run. Best to get your credit score improved by not using more, paying what you can on what is owed and if needed cutting up cards that are with the highest interest in the borrowing to begin with. Your credit score needs to be raised. This can be done by not spending further and making above the minimum payment and not making late or missed payments on what is already owed. Overall, now is not a great time to buy a home. The banks are merciless in late payments on this and foreclosures are on the rise. The market is bad though for sellers right now and if one wants to take on the house payments there are sellers that are looking for a fast sale. Check the papers locally and see the for sale by owners, no money down and rarely there are ads listing even if you have bad credit. Regardless of what you decide, be SURE to get a home inspection before any purchase to avoid having any major unexpected expense once you purchase a home. Some things can be required to be fixed by the current owner prior to a purchase even then. A home inspector shouldn't cost that much but make sure they are reputible. Good luck.

Answer 3

It won't be easy, if even possible. If you don't have a downpayment OR good credit, your options are very limited.

You can search around for possible programs which encourage purchase in blighted areas, but beyond that, you're pretty much out of luck.

Answer 4

Work with a versatile mortgage broker. A professional mortgage broker will be able to assist you in identifying credit issues and help you prep to buy a home.