My husband and I are looking to buy a house soon and he has a repo on his credit and like hospital bills and stuff. He makes good money and has a good job hes been at for 8 months and were just wondering will we be able to buy a house? I’ve heard theres a loan for first time home buyers that allows you to build your credit thats new.. anyone heard of this?
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I believe you both still can get a home although options maybe far and few than b4. You are more than likely will have to pay a higher interest. If possible, wait until you get your credit score higher so as to pay less in interest and try not to accept PMI on the contract if you do accept pay off the needed amt quickly and have it removed asap. Happy home shopping.
Get Suze Orman’s books-The Road to Riches and The Nine Steps to Financial Freedom.
You can probably qualify, but you’re going to need a BIG down payment if the credit score is below 640 or so.
If you don’t have any money saved up, stop looking for a house until you do. Don’t fall into the trap that so many American’s have the past 5-10 years.
There are still a few creative financing options out there, I would also look at for sale by owner, these are usually motivated sellers and there are few ways to get around the credit issue. visit http://www.deangraziosi.com and enter the forums, you can read postings from many other people in the same boat that made it happen