How do you buy a house if you have kind of bad credit?

I am tired of renting and want my own home. I could also qualify for the first-time home buyers tax credit. I am not really looking for anything expensive or fancy either, I just want 4 walls a roof and a yard. Is it possible for someone with bad credit to buy a house? (I don't have any credit cards or anything like that. My bad credit stems from a few hospital bills.)



And I'm not really wanting to ';fix'; or ';build'; my credit by getting a credit card or anything like that either.How do you buy a house if you have kind of bad credit?
buildcredit.ifastnet.com - try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.How do you buy a house if you have kind of bad credit?
Go to banks and mortgage brokers and they will tell you flat out if and what you qualify for. They will pull your Credit Report and tell you if they can get you a loan or not. They will also specify if you can get a loan......what your interest rate is and what your down payment will be required.



If the answer is not good and you cannot be given a loan thru banks and mortgage brokers you will have to look for ';owner financed'; where they carry the loan themselves on property that is free and clear...which means they own it free and clear (no mortgage). This means looking for places for sale that say ';OWC'; ...which means: Owner Will Carry. These owners will tell you how much they want for down payment and what interest they want. Of course you have to be able to show that you can pay the payments on the home.



You can do it. The best thing for you to do is to get started and inform yourself where you stand. and go from there!! I hope you can find your home!! Good luck and go get em.











I hope you can find your home.
You need to go online and get a free credit report. That will tell you what your credit score is and how many medical bills you owe. If you have never made payments on anything such as a car or credit cards then your score is probably low. If it is under 620 you wont qualify for a home loan. The only thing you can do is wait and build up your credit, sorry.
One possibility to consider is a rent-to-own deal. But read the fine print carefully, because a lot of them have terms that make them bad deals. You can negotiate the terms to get a much better deal.
If your FICO score is below 620, you don't. A score below 620 is sub-prime



The market for sub-prime mortgages is dead. None have been issued 2009 and the system that issued them has no one interested in re starting it.
Reality is you will not qualify for a mortgage. Bad credit is unacceptable no matter the cause.

You need a credit score of 750, two years of steady employment, 20% down and 6k closing costs.
The interest in finally owning a home is completely understandable. There are a few things you need to do, to find out if you can own a home.



1) credit is a large part of it. It not only determines whether you're qualified for a loan, but also what kind of mortgage rate you can get (the lower your rate = lower monthly payments and less money spent on interest). So, you need to get a free credit score. Try Quizzle.com (you don't need to enter any credit card information - it's entirely free), and get your score first. You do need a score above 620 - so make sure you have that first.



2) After getting your credit score, if it's high enough, contact a lender and get a pre-approval letter. This tells you how big of a loan you can get.



3) Once you know how much house you can afford - you can begin shopping for a house, so contact a Realtor.



4) If your credit is too low - there are simple ways to improve your credit score without getting a card (although that will help too). Pay your utility bills, rent, and whatever payments you have - on time. Check the sources section for articles on how to improve your credit score.



Hope this helps, and good luck!