News Flash! Not everyone wanting to buy a home has perfect credit. A bad credit home purchase is possible!
The good news is that you no longer need perfect (or even good) credit to purchase a home. As they say, “Life happens when you are busy making other plans.” It seems that the mortgage industry is just starting to get the message.
Buying after a Bankruptcy? Foreclosure? Short Sale?
Over the past several months there have been huge steps made towards making homeownership possible for all. For instance, did you know that you can now get a new FHA loan with a short sale, foreclosure or bankruptcy just 12 months ago?! Probably not, as most people are still under the impression that you need to wait at least 2-3 years afterwards in order to qualify for a new mortgage. THIS IS NOT THE CASE ANYMORE! Read more
FHA Bad Credit Home Purchase
Speaking of FHA loans, did you also know that it’s possible to qualify for a new home with a 500 credit score? All you need is 10% down and good enough income to support the payments and you’re on your way to taking advantage of this mortgage for bad credit borrowers!
These are just a few recent examples of loosening criteria in qualifying for a new home loan. In order to be considered for some of these bad credit home purchase loan programs not available at your local bank…