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    CICELY's Avatar
    CICELY Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 23, 2011, 08:37 AM
    Buying a house with credit problems
    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    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's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    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
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