How can I buy a house with bad credit? - ProProfs Discuss
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How can I buy a house with bad credit?

Asked by D.Hadenr, Last updated: Sep 28, 2019

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a.Nancy

A.Nancy

Answered on Dec 14, 2017

Let’s face it: credit scores are pretty much everything when it comes to getting a loan for a house. If you have a bad credit score, it can be difficult to get this kind of loan. However, there are ways to get around having a bad credit score when you need a home loan. One of these ways is to just accept a higher interest rate.

You’ll end up owing more if you don’t pay on time, and even more so than someone with good credit, so it works as a way to encourage those with bad credit to pay on time. If you have enough money on hand, you could put down a larger down payment, so that you have less to borrow. The worst any loaner can say is “no”, so if you need that home loan, keep trying.

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