Where should I start if I want to buy a home, but my credit is bad?

[episodic]

I understand it can be done, and there are some companies that specialize in it, and that my interest rate will be higher - where should I start? Google just returns a bunch of spam sites. . .

 

[KLin]

win the lottery. instant house buying power right there.

 

[episodic]

Originally posted by: KLin
win the lottery. instant house buying power right there.

I'll put it on this list. Just looking for more options

 

[mrrman]

ditto...count me in to

 

[Looney]

Originally posted by: episodic

Originally posted by: KLin
win the lottery. instant house buying power right there.

I'll put it on this list. Just looking for more options

Pay it in cash then.

 

[Caesar]

you may wanna try asking the same question at fatwallet's finance forum

 

[KingNothing]

Have you actually gone to a bank yet to see what they'll offer you?

 

[episodic]

Originally posted by: KingNothing
Have you actually gone to a bank yet to see what they'll offer you?

I've been turned down from a traditional bank. I know there are some places that specialize in lending to those with credit that is not so hot.

Was curious if anyone had experiences or thoughts about it?

 

[OulOat]

http://www.theultimateprogram.com/default.asp?up=5626

 

[OulOat]

Jim Kaplan has a great deal on volcano insurance for you!

 

[jadinolf]

If your income is high and your job is very secure there is always a company out there willing to stick it to you.

 

[episodic]

I don't understand why buying a home is such a big deal credit wise. I've 'always' paid my rent. I'll pay 'the place I live' before any other bill. Sheesh, If I can afford the monthly rent - and a house payment is much lower (which it is around here), why is it such a risk to lend? It isn't like they can't sell the house should I have a drastic problem???

 

[cmv]

http://thehousingbubble.blogspot.com/

 

[jadinolf]

Originally posted by: cmv
http://thehousingbubble.blogspot.com/

Interesting.

 

[thatsright]

Gun + Bag + Bank = New Down Payment

 

[episodic]

Lots of interesting posts - but no real links or thoughts.

I have a sizable downpayment ready.

 

[BurnItDwn]

iF your place of work has a credit union, they may be able to help you out.

Otherwise you are likely to get a really horrible rate.

My father has good income , but declared bankrupsy about 2 years ago.


he recently bought a house and has over 8% interest rate on an adjustable rate loan ... with 20% down.

I have 4.25% on an adjustible with 0 down ... I make way less money, but I have much better credit. heh.