Bad credit and want a house??Possible??

Really bad credit, is it possible to get a house??

Quick question!



My husband likes to fill out credit card applications! Bad habit and now we know just HOW bad...



We just found out his credit is at a 559 because he has had his credit pulled 24 times in 6 months!



Is it possible to still get a house loan with this?? The house we have been trying to get is 140,000!



Please advice??Bad credit and want a house??Possible??
With bad credit home loans...it is possible for you to buy a house of your choice. These loans are a blessing in disguise for people who have had a long run with bad credit. Bad credit home loans give people suffering with bad credit an opportunity to own home. The best part about bad credit home loans is that lenders do not take into account your credit score, which is used by most of the lenders when giving home loans. So even if your credit score is not up to the mark you can avail bad credit home loans.



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A lot will depend on how high your income is, how secure your employment situation is, whether you actually owe anything on any of those credit cards, and how much of a down payment you're planning to put down.
the only way to go would be an fha loan, check at your local bank, short of that until the credit inquiries age and the score goes back up, 3-9 months its not going to happen, and fha is strict no 30 day lates in the last 12 months, rent checks are a must, not receipts, and debt to income has to be under 42%,
Oh, it takes a lot more to drop credit to 559 than just credit checks.



First advice: get your free copies of your full credit reports. Go through them with a fine-toothed comb.



Second, you don't need a house, you need a loan! Prepare yourself for getting a loan. These days you need much more than 559, or you will end up borrowing from private investors or family. Income and debt owed plays a much bigger role in deciding whether to grant a loan. Bring a lot of money to the table for downpayment.



Third, do you really think you could keep a house? Your credit score shows you are careless with money, and in all likelihood you would abuse any equity you get and drive yourselves deeper into debt.
Yes it is possible it is called subprime loan but with the housing market in a slump a lot of lenders have gone under already. Since the foreclosures are in record numbers, some Lenders would be hard pressed to hand out another subprime loan right now. But you could give it a shot. They look at your income, your debts (ratio), your recent (usually about past three years) payment history, any outstanding collections or judgments would be bad news for a lender - and your down payment. You could certainly start out by getting pre-approved and talking to your Loan Officer - they will look at your credit reports, etc. and tell you if there needs to be any improvement. Good luck!
YES, you can get a home with bad credit. Lease2BuyUSA.com is a company that places people in homes all the time. They offer a unique and innovative lease w/option to purchase program that allows people with slow credit to move into a home and get their credit repaired for FREE! Go to their sit: here is a link http://lease2buyusa.com/default.aspx . They are based in North Carolina and beginning to expand throughout the South East. Their site is still under construction and they're adding new properties all the time. The program allows you to enjoy a home just like it was your very own while you get your credit repaired. Then usually by the end of the lease term, your credit is good enough to get a great loan that is fixed at a descent rate. USDA program now allows a 100% if the home is in a rural area. They won't take on clients that have had a foreclosure, recent bankruptcy (within last 2 yrs) or recent repossession (within last 12-18 months), cause those things take a little more time to repair or fix. And you have to have the option money and first months lease payment, but if you meet those things, then your usually in. The application is FREE and so is the Credit repair.