The Secret to Buying a House with Bad Credit

Depending on your circumstances, you may have lending options that make it possible to overcome that bad credit barrier when buying a home. This guide will teach you how to buy a house with bad credit, and where to go to find financing that will work for you.

The Secret to Buying a House with Bad Credit

The minimum credit score you need to buy a home will vary based on a few factors: - The type of mortgage you want - The lender you’re asking - Who you are

What Credit Score Is Needed to Buy a Home?

Minimum Credit Score Needed for Different Mortgages

Certain types of home loans allow you to qualify with a lower credit score while others require a higher score.

Every lender has a set minimum credit score they require to approve homebuyers for a mortgage. Some lenders will accept lower credit scores while others have stricter requirements.

Lender Credit Score Requirements

VA Loans’ Credit Score Requirements

Your personal situation may also come into play when it comes to getting a mortgage with bad credit. The best example is VA loans, which are backed by the U.S. Department of Veterans Affairs.

No matter what your circumstances are, there is one surefire way to find all the opportunities available to you to buy a house with bad credit. All it takes is one free phone call and a quick consultation with a HUD-certified housing counselor.

So, What’s The Secret to Buying a House With Bad Credit?

Why You Need a Housing Counselor

Housing counseling agencies are local, meaning they are approved to provide counseling in a specific state and region. That hyper-local focus means they know every avenue available to help homebuyers out. 

Several federal programs help first-time homebuyers that have bad credit. Some banks also offer first-time homebuyer programs. 

First-time Homebuyers