Q&A: I have bad credit is there any way to get real estate financing?
Question by hensleyss: I have bad credit is there any way to get real estate financing?
i mean actual money in my name real financing. not the so called creative financing way. Are there any grants available for people like me?
Best answer:
Answer by GoddessofCoughSyrup
Grant means free money. Not likely. If you can’t manage your personal, every day financing.. why would someone give you free money to enable you to take on 100k+ more in debt? The government will subsidize your housing but you have to live in low income housing… apartment – not your personal home.
What do you think? Answer below!
You would need to talk to a real estate agent in your area. Where I am from we do have grants in our area. So talk to an agent and they can help you proceed from there. I would know because my husband and I got a grant to buy our house 9 years ago so give it a try.
I also had poor credit, but bought my first home last year. I went through a broker, instead of just getting a real estate agent. He was able to find a bank that would give me a “statement loan”. That is where I had the money, just not the credit. They used my bank statements from the past year and seen that I had enough money to make house payments, and I was even able to get first time home buyer program, 0 money down, and the sellers paid the closing costs. There are ways, but my best way was to go through a Broker, who was able to help me tremendously!