Buying a house is in reach for those with poor credit histories. Even with bad credit, you can secure a mortgage with reasonable rates and terms. Before you assume you have a low credit score, check your credit report. If you do have adverse credit, plan on getting the best rates possible by following these three tips.
1. Up Your Down Payment
Besides your credit report, your down payment will greatly affect the rates you qualify for. In some cases, it?s possible to qualify for conventional rates with a large enough down payment.
If you have an especially low score due to a recent bankruptcy or foreclosure in the last year, you may be required to put down 50% of the home?s value. It is possible to get a mortgage with no cash down, but your rates will be mu View the rest of this article
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