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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