How bad is it?
It may not be as bad as you think. If it is really bad then you may want to sign up with a credit repair company to get it straightened out. I several clients in the same boat that are working with credit repair professionals.How do i get a loan to buy a house with very very bad credit?
In 2006 you could probably get a loan with bad credit. Those days are long gone. You might still be able to get a loan with bad credit, but you would need a very large down payment and other assets so the bank can be assured that you could make your payments. You'll also need a good job of some duration. A co-signor will help you as well.
Marc T. Hardekopf
You don't.
You first clean up your credit, save 20% for a down payment (or 3.5% if you can get FHA) and then look for a lender.
At this point, you are a huge risk in a lenders eyes. Lenders are not taking unnecessary risks anymore.
Bottom line: You have to EARN your right to be a home owner.
I hope you can't. There should be a price to pay for borrowing money and not paying it back. People doing that have caused the current economic crisis and raise borrowing costs for honest people who honour their commitments.
If you have very very bad credit, you're not going to be able to get a loan. You'll have to work on your credit for a couple of years first.
you can, but you will need 30% plus down.
The days of bad credit, which is now anything under 680 is long gone.
pull your credit report and fix the problems.
Sorry you won't. Or at least I hope you don't thats the reason we are all paying now. For stupid mistakes of others. Work on your credit.
liike how bad???
if it's less than a 620 score you will need atleast 20% down.
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