De nombreuses personnes s’inquiètent de leur cote de crédit lorsqu’elles envisagent d’acheter une maison. Mais les prêteurs hypothécaires se soucient moins d’une faible cote de crédit qu’on ne le pense. Les prêteurs se soucient plutôt de savoir si vous êtes capable de les rembourser chaque mois. Pour cette raison, ils s’intéressent davantage à la stabilité de votre emploi ainsi qu’à votre revenu annuel. En fait, un nombre important de demandes de prêt sont approuvées malgré une mauvaise cote de crédit. Les gens peuvent donc acheter une maison même avec un mauvais crédit.
When the credit score falls below the lender’s minimum standards, it is considered bad credit. But the minimum standard can vary among lenders. For instance, the minimum credit score for conventional loans is 620. You also have to make a minimum down payment of three percent for this loan which is a great choice for those who have a low credit score.
FHA loans are also another great option for a home buyer with a bad credit score. Even this loan also has provisions for buyers with no credit. That’s why it is considered the original “bad credit” mortgage loan. VA loans and the homebuyer Assistance Program are some other options that can help you to buy a house with bad credit.
However, remember that credit scores are not permanent. There are always some opportunities to enhance your credit score. You just need to practice some good financial behavior that can help you to bring a significant difference in your credit score. So, it is wise to take some organized moves to build a handsome financial profile with a good credit score.