Reported 1 day ago
Purchasing a home with bad credit is challenging but possible. You can secure a mortgage even with a credit score as low as 500, although it typically comes with higher interest rates. To improve your chances, it's essential to check for errors in your credit report, reduce existing debt, shop around for lenders, and consider having a co-signer. Different loan types have varying credit score requirements, and an FHA loan might be a viable option for those with a score of 580 or above. Ultimately, preparing financially can make homeownership attainable even for those with poor credit.
Source: YAHOO