I am a single parent and there is a house I want to buy but my credit is no good how can I get a low income home loan

Hi, donna36!

Have you already been to a lender to see if you can get a loan, please?

Thanks!

I don't want to be disrepectful but quite frankly if you have bad credit now how do you propose to pay for the home should you even get a loan for it?

The banks and loan institutions these days are holding off giving anyone loans for just about anything you can think of unless the borrower has excellent credit and even then these people are getting turned down left and right.

You'll just have to put your dream home on hold for awhile longer.

Normally you don't,

What you do

1. find the reason for the low credit score and fix it
a. if you have any past due bills, bring them up to date
b. pay bills on time

This allows your credit score to improve over time.

Next set up a budge and get at lest a min of 10 percent for down payment and 20 percent is better.

With all of the foreclosures lenders are requiring a much higher credit score to get a loan.

Next and being a little rude, people don't need to be borrowing large sums of money for a home until they are in a place where they can properly afford it.

Being a single mother has nothing to do with it,