Bad Credit: What Are Your Options To Buy A Home?

Yahoo! Finance answered some of the most-searched questions in 2014.  The number five question on the list was, "Can I buy a house with bad credit?"

The Website concluded the answer is "yes," but, "it won't be easy."

The three main avenues to pursue are as follows:

1) Fannie Mae or Freddie Mac loan;
2) FHA-backed loan; or
3) private lenders

Of note: Fannie and Freddie loans are for people with credit scores of 620 and higher.  Home buyers will need to put down 10% for FHA loans.  And private lenders will most likely require a 20% down payment and the mortgage rates could still be in the 8% to 9% range.


I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.

For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty