Buying A House For The First Time With — Bad Credit

💡 Even if you qualify with a low score, you will likely pay a higher interest rate. If you can wait 6–12 months to build your score into the mid-600s, you could save tens of thousands of dollars over the life of the loan.

Unlike a single bank, brokers work with dozens of lenders and know which ones specialize in "subprime" or low-credit applicants. buying a house for the first time with bad credit

Pay down credit cards or small loans to show you can handle a monthly mortgage. 💡 Even if you qualify with a low

The most popular choice. You can qualify with a score as low as 580 with a 3.5% down payment. If your score is between 500 and 579 , you may still qualify if you can provide a 10% down payment. Pay down credit cards or small loans to

For veterans and active-duty service members. There is technically no minimum credit score set by the VA, though most lenders look for at least 580–620 .

A bigger upfront investment reduces the lender's risk.