how do we apply for bad credit first time homebuyer

Hi, I can work with lower scores (down to 530 credit score). There are some things to know for those with lower scores... If you're not a veteran, you may need a larger down payment (up to 10%); you may need to provide proof of 3 add'l accounts (not on credit - showing paid on time); you may need reserves after closing (cash left in the bank- your own funds). You shouldn't have any new collections, no late payments in the last 12 months. There are also rules on open derogatory credit that you'd have to meet. If I can help answer any add'l questions, I'd be happy to help. Best wishes otherwise, Kimberly Lawson, Licensed Mortgage Loan Originator - Ohio only. Contact and licensing information can be found on my profile.

Suggest you check out my blog on this site, "First Steps"

Everyone's definition of "Bad Credit" is different.. for this reason, lenders use credit score to zero in on acceptable levels.. without looking at your complete loan profile, no one here can say for sure If you can get financing or not.. As you can see, there are lenders out there that allow for financing down to 500 credit scores.. but understand this.. the lower the acceptable score, the more strict the guidelines are and very few that apply actually get approved.. Your FAR better off letting a local mortgage broker look at your complete loan scenario and after seeing all the necessary info, he can guide you to the right steps to obtain financing.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com