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View Full Version : Buying a house with credit problems


CICELY
Mar 23, 2011, 08:37 AM
If i have bad credit card. Can it still buy a have house ? I make 500.00o per year. Can i buy a house at 175.00.

ScottGem
Mar 23, 2011, 02:45 PM
First its not a good idea to piggyback your question on someone else's. This can lead to confusion. You should start a new thread. So I've moved your question to its own thread.

Second, please don't shout at us (typing in all caps)

Why would you have a credit problem making half a million a year. Do you have bad credit or just a problem with one credit card?

With an income of $500,000 you should qualify for a mortgage of $100,000-$150,000 but you may need to put a down payment of 20-30%.

Talk to lenders and see what amount of mortgage you qualify for.

Fr_Chuck
Mar 23, 2011, 06:57 PM
Yes, first you get your budget under control, and is that house you want 175,000 or 17500,000
Big difference. But you will need to save for a larger down payment