Home Buying Assistance
Bad credit home loans
#1 Home Buying Assistance Program for Home Loans in Petersburg VA
Bad credit home loans: If you’re looking to buy a home but don’t think that you have the credit or funds necessary, you’re in the right place. Through our Home Buyer Assistance Program, you could be approved for a home loan in no time. Using our experience in the finance and funding industry, we can help you increase your credit scores and get approved for a home loan. We have a 98% success rate for clients who come into our program and execute the game plan. We know exactly what it takes to get approved for your home loan and we are willing to help.
Buying a home can be a daunting experience for a first time home buyer. Some of the questions and concerns that come to mind are:
- I don’t know where to start!!!
Before you can even think about mortgage loans, it’s a good idea to know what’s on your credit report. You can get access to your credit reports from several websites including: creditkarma.com (only 2 of 3 credit reports are available here), creditchecktotal.com, and myiqreport.com to name a few.
- But I have low credit scores. Can you help me?
Absolutely yes. A lot of our clients have low credit scores when they start our home buyer assistance program. Our overall goal is to provide a great mix of credit disputing and credit boosting methods to increase your credit scores.
- Can I really buy a home with bad credit?
Yes, you can buy a home with bad credit. There exist bad credit mortgage lenders that offer what we like to call a bad credit mortgage loans or FHA loans, that allows people with bad credit to buy a home. The credit requirement is only 580, which is actually considered a poor credit score by the three major credit bureaus.
- I can’t even qualify for a credit card, how can I get approved for a home?
We’ve seen this scenario many times. Normally, there could be an item or items on your credit report that needs to be disputed and removed from your credit report. This is our specialty. Through our home buyer assistance program, we can not only get you approved for a home loan, but we can also get you prepared and approved for credit loans as well.
- How fast can you get me ready to buy a home?
Our home buyer assistance program is a 6 month program. However, we’ve helped a few clients get approved in as little as 3 months.
- What is the minimum credit score required to get a mortgage approved?
Of course, there are credit requirements The typical minimum FICO score required to get a mortgage approved is 580+ for FHA loans, 620+ for VA loans (some lenders require 580), and 640+ for a USDA loan.
- How much money do I need?
There are several home mortgage loan programs, and the program you’re approved for determines how much is required for a down payment. It was standard years ago to put 20% down. Today, 3% – 5% are more common down payments, with some programs available that require as little as $0 down. Here are a few typical down payments by program: USDA Mortgage – as little as $0 down in less industrialized areas; Conventional Mortgage – as little as 3% down; FHA Mortgage – as little as 3.5% down.
- How much are closing costs?
There are many instances where motivated sellers cover closing costs for home buyers, so the buyer pays $0 in closing costs. However, typical closing costs on average can be about 2.5% of the purchase price.
- What are typical mortgage rates and how much will my monthly payments be?
Let’s assume the current mortgage rate is 3.5% on a 30-year fixed rate mortgage of $200,000. Your monthly payment in this scenario would be $898.09.
Whatever questions or concerns that you have, you have to start somewhere. That starts with a conversation. We have heard all of these questions and many more. The good news is, we have helped people buy homes who have started with these same questions and concerns.
The thing that we tell people, is that it’s much easier to qualify for a home loan than you think. Believe it or not, it’s much easier to qualify ‘credit-wise’ for a home loan than it is to walk into a new car dealership and purchase a new car.
So, How Does It Work?
Getting started is simple.
Step 1: First, give us a call. We can help, if you don’t call.
Step 2: Next, we provide you with instructions on how to get access to your credit reports for free online (Note: We do not pull your credit reports but choose the option of allowing you to pull your own credit reports online for free).
Step 3: We review your credit report with you and give you an analysis of what we need to work on to get you approved for a home loan.
Step 4: Next, we enroll you in our Home Buying Assistance Program and start working with you to get your credit where it needs to be for approval.
Step 5: Once we have achieved our credit goals, we will gett you pre-approved for a home loan.
Step 6: Once you’re pre-approved, you can start working with a real estate agent to find a home.
The process is very simple.
Give us a call today to get started.