What About A Single Mother Who Has A Good Income But Not Great Credit...for A Home Loan?


3 Answers

Aisha Profile
Aisha answered
If the income flow is strong, you can get the Bad Credit Loan. There are various solutions getting it. Here is one such link which could help you out:
HomeLoan Help Profile
HomeLoan Help answered

There's a few different options available for prospective homeowners with bad credit. The most common is the FHA loan, but VA loans, USDA loans, and rent-to-own options are also available. This link explains all of these in more detail, as well as instructions for securing one with the help of experts in your area:

Gregory Merrity Profile
Gregory Merrity answered
It all depends on how bad the credit is, assuming your credit score is at least 500 and you have no bks,you may be able to go fha,which is a government backed loan with a FHA loan the credit itself is more important then the credit can have no credit at all with FHA and qualify.if your credit is too bad to do FHA I would suggest waiting until you clean it up to try again. Its just not worth doing a subprime loan which is for people that could not qualify for a conventional or FHA loan.subprime loans will require a higher down payment and you will have a higher interest rate and more often then not you will have a prepayment penalty,which prohibits you from paying off the loan early or refinancing.

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