All about bad credit score and buying a home - The Bills.com Blog

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All about bad credit score and buying a home

Question: Do you help people with low credit scores purchase a home my score is 485?

Answer: While we at Bills.com do not directly lend money, we try to put potential home buyers in contact with lenders able to meet the buyers? needs.

Currently, your credit score is well into the ?sub-prime? category, meaning that you will pay a premium for any financing you can obtain. Although you maybe able to find a lender willing to lend you money to purchase a home, I would recommend that your first turn your attention to improving your credit score, so that you can obtain a loan at a better interest rate and with better terms. If you can find a lender now, the loan you obtain will likely be at a very high interest rate, and could possible make purchasing a home impossible simply due to the prohibitive cost.

Check out http://www.bills.com/creditscore/

This has information about credit scoring and ideas on how to improve your credit score. If you would like to have a few lenders contact you, I encourage you to submit your information on the Bills.com Savings Center, which you will find at the top of every page on Bills.com. We will send your information to several lenders

who may be able to give you a better idea of the loan options available to you. Armed with information about credit and what loans you currently qualify for, you will be able to make an informed decision about the best time to buy a home and what you should expect to pay.

I hope the information provided helps you Find. Learn. Save!

Best wishes,
Bill
www.bills.com

Also, make sure to get a free financial health check-up with Bills IQ!

Submit questions/comments about this post:

Bill has answered all sorts of questions and has been able to provide those in need of financial guidance with helpful and valuable advice and information on their specific financial area of interest. If you need specific guidance on any of the above mentioned financial areas, feel free to Ask Bill your financial questions and get better informed. Also, make sure to get a free financial health check-up with Bills IQ!

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