Bad Credit Mortgage/FHA Loan?

Hello,

I’m trying to get some answers on a very simple question….. Is it possible to get a Mortgage/FHA Loan with a bad/poor Credit Score? I’ve been reading all types of forums and blogs on this and I’m not really getting anywhere. The thing is most of my past credit issues are going on 2 years of age or more. Should I pay them off or leave them be? I’ve read that if some things on your report are over 2 years old you shouldn’t pay them off because it will update it and hurt me even more. Is this true? I have no clue. The home I’m looking at right now is only ,000 and I make nearly ,000 yearly gross and I have plenty for a down payment. Should I just get all my information together and apply for an FHA Loan and cross my fingers?? Pretty much what I’m asking is, are there companies/lenders that don’t really punish you for bad credit as long as you can prove that you can afford the loan??

No Doc, Bad Credit, First time Home Buyer Purchase Mortgage?

I want to buy a single family home in Louisiana for 165,000. I have never filed bankruptcy. But I have a poor credit score, student loans and am self-employed. That’s the bad stuff. The good stuff is that I have cash in the bank for a down payment. I could do 20% down but would prefer 10%. I also could get my parents to co-sign but would prefer not to.

Is there a way for me to get a mortgage? My plan is to fix the place up and try to sell it. And if it doesn’t sell I was going to move in. But it’s in a high demand area so I think it will sell. So I’m looking for a mortgage that has no early payment penalties.

Any ideas?

is there any mortgage companies that do bad credit financing?

I am looking to purchase a new home but my credit score is not high enough. Is there an companies that can help people like me with a poor credit score?

Bad Credit Mortgage and Marriage?

I am getting married in 6 months however my credit score is around 550 and the wife to be has a 700 score. The problem is that with my poor credit score it seems we can only use my wife to be credit score and income.
We can get a great rate with her high score but we can only afford a home in the 120,000 range with her income. I cant add my income because of my credit score. If we could combine incomes we could afford a 200K home. I dont really know what to do. I cant find anyone to add our scores and since I dont have at least a 620 score I cant use my income.

Applying for mortgage, I have very bad credit, boyfriend has good credit?

My boyfriend and I are starting the process of buying our first home. I have a bad credit score (although I have cleaned up most of my debt, the damage I did a few years ago in college still reflects poorly on my score) but my boyfriend has a very good credit score. Since we both want to be on the mortgage and want to be joint buyers of the home, both of our credits are going to be run and I’m extremely nervous that my poor credit score is going to ruin our oppurtunity to buy our first home. We both have been at our jobs for a long time (me 3 years and him over 5 years) and have steady income however. Our combined income is about 80,000.
I guess I just would like some advice from some people who have been in similar situations to mine or some mortgage professionals. Will my poor credit and his good credit balance out? I’m very paranoid about this. Thanks.
I didn’t ask for advice about what to do if we split up. We are getting engaged soon and plan on being married within the next 2 years.