Buying a home with bad credit?

United States
May 10, 2007 1:17pm CST
Me and my boyfriend are looking to purchase a home in apprx one year. I have horrible credit from being stupid in my teen years and he has not yet established credit. Is it going to be hard for us to buy a home?
1 response
@ljcapps (1926)
• United States
10 May 07
you have so hit the nail on the head with this one. I don't have good credit either but I am still able to buy a home! I have been absolutely giddy about it. There is what is called a "FHA Home Loan" that does not run off of your credit rating. Now we have had to pay-off some of my past creditors but other than that we were surprised that we qualified for ANY loan at all. My wife convinced me to go to purely as a lark but within about an hour of submitting our application we had three different lenders call us. So yes even with bad credit you can own your own home. Good luck and let me know how it turns out.