Can You Buy a Home With Bad Credit?

If you’re buying a home for sale in Lake City, you know that the better your credit score is, the more favorable interest rates lenders will be willing to offer you.

But can you buy a home with bad credit?

Buying a home with bad credit

For most people, a poor credit history is a huge obstacle to purchasing a home. The best thing you can do is get a free copy of your credit report. Thanks to the Federal Trade Commission, we’re all entitled to one free copy of our own credit reports each year. You can get yours here. If you find any errors on your credit report, dispute them with the reporting agency immediately – credit reporting agencies are required by law to investigate these types of reports. If they can’t prove you’re wrong, they may and also be required to remove the item from your credit report.

Tried to pay down your debt as best you can while your house hunting. Also:

Don’t incur any new debt. That includes taking out lines of credit in your favorite stores, making major purchases or co-signing on someone else’s loan.
Keep tabs on your credit score. Sign up for a free credit monitoring service, such as Credit Karma, so you always know where you stand.
Don’t close any credit cards. One factor that slave into your credit score is the age of your credit history – and closing a card erases that line of credit, thereby making your credit age younger.

Are You Buying a Home in Lake City?

If you’re moving to Lake City, we can help you find the perfect place to live. Call us at 386-243-0124 to tell us what you want from your home and we will begin searching right away.

In the meantime, check out the most popular Lake City home searches by exploring the links below.

Can You Buy a Home With Bad Credit?

Buying a home with bad credit

Are You Buying a Home in Lake City?

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