Qualify For a Home Loan With Bad Credit

Mortgage and Lending with Essex Mortgage 1487494

Real estate is busy and sellers are reaping the rewards.  Most sellers can expect multiple offers above asking price.  A buyer needs to be ready to make an offer.  What does it mean to be ready to make an offer.  Well, the first and most important step for a buyer is to get preapproved for a mortgage loan. Getting preapproved for a mortgage loan and having a preapproval letter in hand is a necessary step for a buyer to be able to make an offer on a home. 


What does a potential buyer do when they have credit issues? Can they even qualify for a home loan?

Buying a home and qualifying for a mortgage loan with credit issues can be done.  A buyer with credit issues can qualify for an FHA loan with a credit score as low as 580, steady income, and verifiable rental history.


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Comments (4)

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

You have to really use a credit your advantage and you should have good dent that makes you money in the long term

Jul 12, 2016 04:56 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I think I'm going to give you a follow because I was in the morning and I'll be back in California

Jul 12, 2016 04:57 PM
CA COASTAL ESTATES Lauren Selinsky Perez CRS
California Coastal Estates - Aliso Viejo, CA
"Your Real Estate Broker" #oclauren

It's amazing how you can get in a home as long as you have a good paying job. I would raise score for a better rate if I could.,

Jul 12, 2016 05:51 PM
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Many potential home buyers are 3 to 6 months away from repairing their credit and qualifying for a home. They need a good mortgage broker who will guide them through the process.

Sep 03, 2017 08:48 PM

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