Buying A Home With Bad Credit – Fix Your Credit And Avoid Bad Credit Lenders
Buying a home is an investment in your future. Even with bad credit you can start the process of rebuilding your credit and building your net worth through your homes equity. By monitoring your credit, researching lenders, and selecting the right loan, you can purchase a home at reasonable rates.
Fix Your Credit First
Before you start shopping for a mortgage, make sure that your credit report is accurate. Follow up with the credit monitoring service to make sure all errors are fixed. You can get a free copy of your report from several companies.
While credit events remain on your report for up to ten years, they cease to be important after two years. So with a bankruptcy three years ago, it is possible to qualify for an A rated mortgage.
But there are other factors that determine your loan rates, such as your cash reserves and the size of your down payment. You can qualify for a conventional loan rates even with a poor credit score.
Avoid The Wrong Kind Of Lenders
There are companies that would take advantage of your credit situation. They would...
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