Buying a for sale by owner with bad credit.?

So I've searched google and resolved questions and I can't find the answer I'm looking for.



Long story short: My husband and I inquired about buying a home and the lady (realtor) that did the credit check and such said that we would have better luck buying a home sold by the owner. She said my husbands credit is ';fair'; and is 10 points below what it needs to be for her to assist us. I already know my credit wont help. It will take another year for it to be where I want it. We don't have any current ';dings'; It is all old stuff that we accumulated separately before we were married and we are working on fixing it now.



I found a house that's a for sale by owner that is in our price range. She told me that I would work with my bank and they would help me take care of all of the financial stuff. The thing is we have already been told by one person that our credit is too low, but to go with a for sale by owner. How is this going to work with bad credit? It doesn't make sense to me.



She (the realtor from b4) also told us that based on our income and bills that we were approved for 200k. We are actually looking for anything under 140k. The house we are looking into buying now is 130k.



Should we wait another year until our credit is perfect or will we be able to get this home that's for sale by owner? I don't have a problem with waiting, but if we can get into a house now I'd rather stop paying my landlord $1000 a month for a little *** apartment when I can be in my own home with a pool for around the same amount.Buying a for sale by owner with bad credit.?
For sale by owner doesn't really change anything, except that the owner wouldn't be paying a commission, unless she was talking about owner financing. And it doesn't sound like that's it either. Did you ask her why she was saying this?Buying a for sale by owner with bad credit.?
I'd give it a try today, but be pessimistic. A year from now sounds more like reality to me, too.
That realtor isn't making any sense. There are no differences in credit qualifications if you are buying 'for sale by owner' or in any other fashion. I have no idea where she dreamed up that one.
You have to go through the process to get the home. You will get a hiked up interest on your mortgage at the last day of signing, that's their way of making a huge chunk off of you and your hubby.



Don't sign it if they do that and then forego and stay in sh*tty apartment until you find a better deal..



Funny... If you had the money in your bank right now, regardless of our credit record... They would sign you up to buy on the spot.