Can I Buy A House With Bad Credit If I Have A Cosigner
Olivia Luz
As long as you have at least a 10 down payment your score can go as low as 500 and you can still qualify for a loan backed by the federal housing administration fha.
The more of it you have to use toward a down payment the better. Home buying options for poor or no credit if you have poor credit a score of 650 or below or bad credit a score below 600 there are programs such as federal housing administration fha loans that are specifically made for those who need help buying a home with bad credit. The reason for this is that your credit score might only qualify you for a certain amount of home. Bad credit bankruptcy or even a foreclosure don t necessarily mean you cannot buy a home there is hope for those who want to buy a house even if their credit is dismal.
It still may be possible for lenders to give you a loan provided your credit score is not too low. When you have bad credit cash is your best friend. Fixing or preventing bad credit. But we know when you say bad credit you probably mean more in the lower range of bad.
If you can cover the difference with cash you can still afford the home you want. Government backed loans are even more lenient.
Source : pinterest.com