Can you buy a home if you have bad credit?

We currently live in an apartment but we are going to start putting away 500 a month for a year ($6,000) so that's a decent down payment on a house..we both have bad credit but with a down payment like that do you think that we will need to have a co-signer? Anyone ever bought a home with bad credit how did you do it? THANKS FOR ANY HELP I CAN GET WITH THIS QUESTION!!Can you buy a home if you have bad credit?
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depends on where u live in??
If you have bad credit, you can buy a home with cash. You can buy anything with cash regardless of credit rating.
First question. How much do you plan on spending for your new home? To be honest it is getting more and more difficult to get a mortgage loan with a FICO below 620. If you have credit below that I recommend starting to work with a reputable credit repair company. Most FHA loans will require a little less than 5% down, conventional I'd only use if a client has 20% down. hope that helps.
yes
Too many missing details: Price of house you mean to buy, your income, other assets, other liabilities.

$6K might seem like a lot to you, but it won't go far when you consider closing costs and other expenses of home ownership.

You didn't define what you mean by ';bad'; credit, but generally you will need a credit score of 720 or above to qualify for the best financing. With good credit you could get an FHA loan with 3.5% down.



With bad credit you will need at least 10% down and probably 20%, plus cash for closing costs.



A down payment of $6000 equals 10% down on a $60,000 house. Is there anything in that price range that you would want to buy?



There are many factors considered when qualifying for a mortgage.

credit score

credit history

income

amount of down payment

job stability

other assets

other liabilities.



Speak with a lender to see if there are any programs you could qualify for, and start researching home prices in your area. You may be better off renting for a few years while you repair your credit and save up a decent down payment.
Depends where you go, and what their criteria is



current real estate listings and properties, from across the map lsg123realestate.com
Depending on your price range, $6000 may not be even close to a ';decent down payment.'; Don't forget closing costs and funding an escrow account. Without at least ';decent'; credit, adequate income and an adequate down payment, you're not going to get a mortgage loan. That's the new reality.