Can I Buy A House With Bad Credit But Good Down Payment
Camila Farah
Research your state s home buying programs.
Exceptional credit 800 and above very good credit 740 to 800 good credit 670 to 740 fair credit 580 to 670 poor credit under 580. First let s take a look at the credit score ranges from fico. Just don t be alarmed if they come with a big down payment requirement. Even with a program like the va loan where there.
Department of housing and urban development. Too often people mistake low credit scores as bad. Even if you have low credit there are still options for buying a home. A fico score of 580 or higher qualifies for the low 3 5 percent down payment program.
In addition to the federal housing administration loan program there may be other programs in your state that will help you buy a house with bad credit and no down payment. Most lenders will require a 640 credit score to qualify for the loan along with other income requirements specific to a usda loan. Put simply the answer is yes. While every case is different you need to remember that a bad credit score is a relative term.
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