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    sylester23's Avatar
    sylester23 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 6, 2013, 04:57 PM
    I need help I'm working I can pay my morage I want to start a frash
    How can I buy a house whit no down payment I have bad credit what can I do , I moving from place to plase I want to start all over again . Please someone help me
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Jan 6, 2013, 05:08 PM
    Where?

    If you have no down payment and bad credit purchasing a house will be difficult. You should clean up your credit - pay your bills on time, build up good credit.

    Rent to buy might be an option - but that would still require a credit check.

    If you have not paid your bills on time in the past no one is going to be willing to trust you to make mortgage payments.
    odinn7's Avatar
    odinn7 Posts: 7,691, Reputation: 1547
    Entomology Expert
    		  
    #3

    Jan 6, 2013, 05:29 PM
    It's hard enough to get a house as it is... but with no down payment and poor credit, you're just going to have to rent like others do.
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
    current pert
    		  
    #4

    Jan 6, 2013, 06:59 PM
    Several years ago you could have. Now - not a chance, unless you can find a FSBO who is desperate to sell and will write you a loan. You could offer a balloon arrangement based on a 30 year term, but due in 5 years, which will give you time to build up some equity and get a 30 year loan from a bank.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #5

    Jan 6, 2013, 07:28 PM
    Sorry will not happen at this point, so you make a plan for it to happen in the future.

    You get a steady job and start saving up money for a down payment. You stop moving from place to place and rent one place with lower rent.

    Then you start paying all your bills on time and improve your credit.
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