How can I/we buy a house in FL, with a very poor credit score?

My fiancee & I have tried just about everything to obtain a small part of the "American Dream". We are not immigrants, so we're not eligible for any "monies" from the government, we are a hard-working couple with bad credit(working on scores, past debts) & a growing family to care & provide for. We've had nothing but hard times & low income to show for it. Please, if anyone has an answer short of breaking the law, we'd love to hear it. Thank you in advance.

Public Comments

1. you should be able to find what you are looking for on my blog visit my profile to see blog, there are several options for home loans for people with bad credit and great credit, best of luck please let me know if there is anything that I can do to help you find more information, and remember if you are planning on living in the house you plan to buy for a while than always go with a fixed rate mortgage so that your payment always stays the same! Best of Luck!
2. Get a secured credit card, but make sure you get one that reports. The card I just got reports every month to all three credit breaus so that I can build my credit. Here is the link. http://www.orchardbank.com/ecare/home_nli Habitat for Humanity also helps families who cant qualify for a traditional home loan. I beleive you need to of had your jobs for over a year, make enough to be able to afford a home, put in some sweat equity (I think thats what they call it) and go to some classes. Their website is http://www.habitat.org/default.aspx Somthing else you might want to look at is a FHA loan, I dont know alot about them but here is some information from HUD http://www.hud.gov/buying/loans.cfm Hope this helps and good luck!
3. Just talk with a mortgage broker. They will be able to look over all your stats and may be able to find a bank that works for you. Without knowing your income and credit score its hard to determine what you may qualify for if anything. One thing to remember is that everyone is so anxious to buy a home that they dont realize that maybe they are better off renting until things improve a little. Alot of people are losing everything these days because they got into a home they could not afford.
4. It is possible to get into a home with bruised credit. But it depends on the big picture. A lot of information is needed concerning your back ground like credit issues, job time, what you have done not to let the bad credit history to never happen again. Stay away from most sub prime lenders, they will succeed in putting you in home that you can't afford and then you become a foreclosure statistic! I am an experience lender (not a broker) who deals in A to Z lending, not using sub-prime lenders and I do loans in all 50 states. Would need to know alot more information, but a least I could guide you on what needs to happen.