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    RobertWalker's Avatar
    RobertWalker Posts: 2, Reputation: 1
    New Member

    May 30, 2019, 11:00 PM
    Is there any real help for an Ex- felon first time home buyer?
    I served 20 years in prison and have been free for about a year and a half. I have a stable decent job and have managed to get my credit score to 700 or just over. The problem I seem to be facing other then the obvious, is i don't seem to have a long enough credit history. I figured as a first time buyer there has to be some type of program or something I qualify for. Not a hand out mind you but a little assistance and a point in the right direction. I go to my bank this Saturday to see if I can even get a loan but I don't have high hopes. Any advise would be very helpful.
    talaniman's Avatar
    talaniman Posts: 54,250, Reputation: 10853

    May 31, 2019, 04:43 AM
    Do you have the 20% or whatever is required down payment and verification where it came from? I would also check other sources for mortgage finances besides your bank. I googled Mortgage financing options and mortgage financing options for felons and found many good articles and guides that may be helpful. Be aware though that certain crimes prohibit felons from many options like real estate fraud and mortgage fraud, from some of those mortgage options but there are others.

    Good Luck
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,304, Reputation: 7692

    May 31, 2019, 06:55 PM
    There are many local programs for first time buyers, and a few other programs. The time on the job and the lack of long term credit is going to make it harder. The issue is that you are going to have to come up with at least 10 percent of selling price, and as noted most likley will need that 20 percent.

    There were some x con felon programs but again most of them local, by non profits and your local broker should know what is offered.
    RobertWalker's Avatar
    RobertWalker Posts: 2, Reputation: 1
    New Member

    May 31, 2019, 10:43 PM
    Thank you so very much. At least this is a place to start looking because I was literally coming up with nothing and getting very frustrated.

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