Trying to buy a home how do I get a loan with bad credit?

I found my dream home in houston for a price to good to pass up. The problem is credit, my husband has terrible credit. He has done everything from break leases to not pay credit cards I believe he even owes a bank money. All before he meet me unfortunatly. We both have good jobs money is no problem we could afford to pay a loan back. It's getting one that I am affraid will be the problem. If anyone out there knows please tell me are my husbands previous bad choices going to destroy my dream? Is there a loan designed to help people like us?Trying to buy a home how do I get a loan with bad credit?
Here is the situation. Yes you can buy this house, but only if you can qualify for it on your own. This means, for the past several years you have filed separate tax returns, your personal credit is good enough to qualify, AND your income in enough to satisfy the bank's requirements. If any one of these three criterial are not met, your husband's finances will be considered and you probably would not get financing in today's market. Sorry the news is not better.Trying to buy a home how do I get a loan with bad credit?
Im afraid that there will be no bank that will loan you money for a house in this financial crisis with a record like that. You can try to qualify for a loan with just your name on it (if you have decent credit) . There are companies out there to help you fix your credit, but that will take a while to do. And even then it may be difficult for him to qualify for such a large loan.
Then u should not buy a house right now. Save more money and have a larger down payment. Resolve ur bad credit and money owed to the bank. It is ppl like you screwing up our economy and we wonder why the banks need a bailout..



If money is no problem then pay your credit cards on time and improve your credit and repay the money you owe the bank!
Not in this credit market....people like your husband are to blame with the housing mess by being irresponsible with their finances. Banks learned their lesson, so unless you have a HUGE downpayment...good luck
Try FHA. You might be able to get one just using your credit if yours is good.
Unless you can afford this home on your own you are out of luck. Your husbands credit is the problem even if you were the primary borrower. The economy has changed and they are not going to give loans to people with even minor credit problems (which is why the first stimulus package was a joke) The only thing you can hope to do is pay off your husbands outstanding bad debt. Re-establish his credit by opening new accounts under his name. Unfortunately this will mean High interest credit cards. Carry at least $150.00 on those cards for roughly 6 months without missing or being late on a payment and his credit will improve. (I say ';carry at least $150'; dollar balance or the company usually won't report it to the Credit Bureau. It doesn't do your credit any good to just have a credit card) I know this is not what you want to hear, but that is the way it works. Given the housing Mkt this house you want could still be available and even cheaper than it is now?



No your credit is seperate unless you are both on the agreement. Joint accounts reflect on each of your credit ratings.
You don't say how long you've been married, but the bad things on your credit report only hang around for 7 years. Are there any good things on your side of the credit? Probably, right now, you won't be able to buy because you have to have almost perfect credit to get a loan from a bank, because, due to the financial crisis, the banks don't have any money to loan. So, unfortunately, though the home prices are now low enough for people to afford a home, there isn't any way for them to get a loan. Then when this is over, and the banks are back in business, the home prices and mortgage rates will return to their normal out-of-reach levels. So, no more bad choices, and buy some things, and pay on time. Maybe someday that dream will come true.