What is the best way to get a 1st time home owners loan for people with bad credit?

Apr 26th, 2010
by admin.

My husband & I have been married 8 years and we are wanting to buy our first home. We have 2 children a 7 y/o son & a 4 y/o daughter. We have been renting all these years & just on this past year we have spent $6000.00 in rent. We figured if we could afford to put that on a rental we could afford to put that payment on a mortgage. Please help.

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5 Comments

  1. TiredofWorking says:
    April 26, 2010 at 2:20 am

    go to http://www.naca.com.

  2. Real Estate Guru says:
    April 26, 2010 at 2:22 am

    The best way is to fix your credit first and then buy so you don’t get ripped off in a high-interest rate with a subprime lender.

  3. Pam says:
    April 26, 2010 at 2:39 am

    How bad is the credit, what are the scores? Is it old bad history or recent? IF recent is it all paid off? What is your income to debt ratio? Do you have a decent down payment or expect 100% with bad credit?

    Go sit with a GOOD Broker and go over your options, THAT is the ONLY way you will know what is or is not possible.

    Stay clear of these idiots who do nothing but spam the site.

  4. bob W says:
    April 26, 2010 at 3:37 am

    call up sellers and ask about owner financing. You can most of the time just take over their payments with no money down.

  5. Rylie says:
    April 26, 2010 at 4:13 am

    Here are many first time home buyers programs available. You may start by calling the city Housing Office in your city or the county housing office