My Credit Is Bad But I Want To Buy A House

Real Estate Agent with The Pamela Madore Group 573760

Pamela Madore
Pamela Madore Mortgage

My Credit Is Bad But I Want To Buy A House

This is somethig that I hear very often.  My first question is always, "how do you know?"

Answers range from:

  • I've got some stuff on there
  • I've got some medical collections
  • I had a repo
  • I had a foreclosure
  • I had a bankruptcy
  • I don't really know but Credit Karma says I am in the 500's
  • The bank turned me down
Sound familiar?  Have you ever said any of those things?  
First, let's get a few things straight.  "Bad" means different things.  It can come in degrees.  Credit scores are not always the deciding factor.  
For instance, let's say you go to a local family owned bank.  You have your checking and savings account there and you have a car loan.  That would be the logical place to go, right?  Let's say, for whatever reason, your score is a 619 (they require a 620 score) on the day you go in.  They say "no".  What do you do next?  Your bank has said "no" so it must be "no".
WRONG!!  Let me explain.
Banks are very conservative and only want people that don't have a blemish and really never had.  Is that realistic?  How many people have gone through 10 years without some sort of credit problem?
Pamela Madore Mortgage
Pamela Madore Mortgage is a mortgage broker.  I work a lot like an insurance broker.  You want insurance on your car and you go to an independent insurance agent and they "shop" for the best deal.  
As a mortgage broker I do the same thing.  In my case, the best deal may simply be a "yes" instead of a no.  I am an approved Mortgage Broker with lenders across the United States BUT I am local.  We can talk and see each other.  You get the best of both worlds.  More choices and local respresentation.
If your bank has said "no" for ANY reason, contact me.  I have hundreds of different programs to fit many unusual circumstances.
Pamela Madore
Pamela Madore Mortgage
3955 S. Soncy
Amarillo, TX 79119
806-290-1920   Call or Text

Posted by

Pamela Madore
Pamela Madore
The Pamela Madore Group 
Keller Williams RealtyAmarillo
3955 S. Soncy
Amarillo, TX 79119

806-290-1920 Cell




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Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Happy New Year to you and yours.....hope 2018 is fabulous for you!

Jan 01, 2018 08:06 AM #1
Brad Thomsen
Big Bear Realty - Edmonds, WA
Real Estate Services

Hi Pamela Madore 

Excellent post. Good information.

Wishing you and yours a Wonderful New Year!

Happy Selling!


Jan 01, 2018 08:57 AM #2
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

It is good to get professional advice when thinking about buying a home and you r dredit is not as good as you think it should be

Jan 01, 2018 03:34 PM #3
Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

It sounds like you have an interesting and needed job. I hope it is very rewarding for you. Thank you for sharing. 

Feb 01, 2018 04:39 PM #4
Andy Brown-Climer School of Real Estate
The Climer School of Real Estate - Orlando, FL
The Best Real Estate School in Florida

Pamela, good job on getting this blog out. Google's spiders and crawlers use blogs for their SEO rankings and love original content and the right keywords.

Jan 18, 2019 01:29 PM #5
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