Depending on the lender or mortgage broker, it may be possible to pursue a loan before negative items on your credit report are removed. Talk to your lender about outstanding things (like unpaid parking tickets that you’ve paid) and they might be understanding.
Beware of companies that promise free credit reports, but really want to sell you services to fix your credit. Remember, three credit bureaus are required to give you the report free.
Check government loans if you have bad credit. They are more forgiving.
No credit at all? Everyone has to start somewhere. FHA loans are subsidized by the government and require a lower down payment than many conventional loans. They target first-time homebuyers.
Other Useful Information and Links
- Qualifying for a Mortgage
- Choosing a Mortgage Lender
- Mortgage checklist
- What to ask a mortgage lender
- Mortgage Types & Rates
- Private Mortgage Insurance
- Mortgage Rates Fearbusters
- Buying Vs. Renting
- Understanding Mortgage Credit Scores
- Debt to Income Ratios (what are they)
- Loan to Value Ratio
- What does a Title Co. do
- Credit Report Tips, Finding Mortgage with Bad Credit
- What is an FHA Loan
- Bad Credit Mortgage Solutions, Fixing Credit
- Credit Scores and Reports, Mortgage Rates
- Down Payment How much do you need to save
- Mortgage Glossary