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

Question

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

3 Answers

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Answer 1

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:

www.directlendingsolutions.com

Answer 2

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:

www.homeloansforall.com/bad-credit-home-loans/

Answer 3

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 score.you 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.