PART FOUR: Is low credit the only reason you rent?

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“I can’t buy a home because my credit isn’t very good”

One of the most legitimate reasons people have for continuing to rent instead of owning a home, is that they have poor credit or low credit scores.  The good news is a less-than-perfect credit score won’t necessarily prevent you from buying a home.  

While it is valuable to have a good credit score, a poor one shouldn’t prevent you from talking to several lenders to explore your options.  You might be pleasantly surprised at the outcome.  You can expect that a good loan officer will be able to help you resolve your credit challenges, often by simply showing you how to move or consolidate your debts, or by referring you to a credit counselor who will put you on a plan.  (This is what the three three lending partners I recommended in one of my earlier posts will do for you!).  Even though this plan may take a few months to implement, it immediately gets you on the right path to ownership.  

Who knows, maybe your credit score isn’t as bad as you even think! Perhaps you can already qualify for a mortgage! Only one way to find out…