What options does someone with bad credit and moderate income have for buying a house?
Answers:
Your best bet if you have bad credit, is to try using a mortgage broker. They can find lenders that will finance homes with a credit score as low as 500. They will also give you some pointers to improve your credit rating. Your income is pretty good, so at least that's one factor out of the way. Good Luck.
Rent-to-Own (aka Lease/Option)
Check into having your credit repaired, not sure of the site but I hear them advertised on the radio all the time.
If you're looking to buy a house by this time next year, then you have a whole year ahead of you to fix your credit. I'm going to recommend you visit the below website. They specialize in credit repair for prospective home buyers. They might have something that you could be interested in
First thing is to get rid of your debts.
Lease to buy may be an option.
Go to a mortgage broker and see what he can do.
Good luck !
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