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Question DetailsAsked on 10/5/2011

How can I purchase a home with poor credit?

I am a female on disability who wants to purchase her own home in and around the Crookston, Mn area. I would aalso like to purchase vehicle to drive myself to visit my parents in North Dakota.

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That's really not a question for a property manager but I can tell you what you will need to do is talk to a banker and get some thoughts from them. Being on disability doesn't necessarily disqualify you but the bad credit likely will. Banks aren't quite as free giving as they were before, although many still have programs for certain individuals. If you have blemishes on your credit report you'll need to get those resolved before anyone will consider extending credit to you for any purchase with a reasonable interest rate. You can't put the cart before the horse, so to speak. You'll have to address the credit before you can buy.

There are several useful articles on Bankrate.com which may help you. They are written by financial experts and have good insight on the steps you should take. You don't have to sign up for anything to read the articles and use their calculation tools.

I hope this helps and best of luck.

Todd Shell
Todd's Home Services
San Antonio, TX

Answered 6 years ago by Todd's Home Services




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