How to buy a house with no or bad credit!?

Posted on Mar 10, 2013 in FHA Information

Question by sac_baby_girl: How do I handle my taxes as a stripper/independent contractor?
I want to do it legally and so that I can start building good credit and be accpeted for a home loan. Please send me a link to a site or something that will help! Thanks.

Best answer:

Answer by Smilin’ Fred
Check with a tax accountant.

What do you think? Answer below!
March 2013: Today's FHA Rates Hovering Near Historic Lows
Story summary: Today's FHA loan rates are still hovering near historic lows. This week, side effects our lender survey showed that some FHA lenders are offering rates in the neighborhood of 3.5%, for a 30-year fixed FHA mortgage. Economists have predicted the …
More informaiton please visit here…

Mortgage Rates: Low Rates Push Mortgage Applications Higher
Today's FHA 30 year fixed mortgage interest rates are as low as 3.250%, FHA 15 year fixed mortgage rates are as low as 3.000% and FHA 5/1 ARM loan rates are as low as 2.250%. FHA mortgages have increased in cost to the borrower, but guidelines still …
For more informaiton please visit here…

Question by Sonia: How to buy a house with no or bad credit!?
Me and my husband recently got married and we are trying to buy a house because we think its cheaper to buy a house the. To rent can someone give us some tips on what we can do to buy a house with no or bad credit please thank you!

Best answer:

Answer by Rarri
yes, buy work hard, approved save ur money and pay for it in full with cash….

Add your own answer in the comments!

5avg.rating 10 votes.

3 Comments

  1. get a co-signer

  2. Giving people home loans that had bad/no credit and didn’t have a high down payment is the reason why this country is in a recession. Lenders have wisened up- these people shouldn’t get loans.

    In order to buy a house at this point, your only chance is to pay cash.

    If you want a nice house that will require a loan, you’ll have to fix your credit and save up for a down payment no less than 10% the price of the house.

  3. A bank will want to see that you have worked for a full 2 years to qualify your salary for a mortgage. You will also need a down payment (you make no mention of this.
    You will also need to pay closing costs upfront, and some insurance and taxes.
    Any negative items in your credit reports need to be paid up.
    If you have any credit card debt, start paying it in full each month, since revolving debt tends to seriously hurt credit scores.
    Get your 3 reports once a year for free at
    Annual Credit Report.com
    Never fall for tv commericals with silly songs that will charge you for them.