Buy A House With No Money Down & Bad Credit

Buy A House With No Money Down & Even Bad Credit 

I wanted to create this blog because I know that just a few months ago I was in a very similar situation as a ton of people here in the U.S. I was renting a house for me and my family and we desperately wanted to buy a house. We also had no money in our bank account and were basically living paycheck to paycheck, so I needed to buy a house with no money down. We also had very bad credit and were concerned that we would not qualify for a mortgage. Our credit was about as bad as it can get, we had actually declared bankruptcy a few years earlier. I am married and have two small children and for the past few years we have been struggling financially and have actually been renting a house for us to live in. Renting is not necessarily a bad situation, it can actually be a better situation, depending on where you currently are in your life. However, for us, it was not. First of all, I hated just the idea of paying rent. Giving somebody else money to help purchase their asset is the same as flushing money down the toilet, in my mind at least. I know renting a home can be a good thing for many people, but another thing that bothered me immensely was the thought of having to potentially have to keep moving my family depending on if the land lord wanted to continue renting to us. My wife and I desperately wanted someplace to put our roots down and stay in and create memories for our children. Also knowing that mortgage rates were at an all time low, I knew that if there was ever a time to buy, it was now.

     Now, everything you read or hear in the news seems to suggest that it is harder than ever to get a mortgage in today's economic environment. Banks have tightened up their loaning process and you need to put up a 20% down payment in order to get the mortgage. So, knowing all of this, we were in the process of looking for a new house to rent and started working with a real estate agent. She knew our entire financial situation and as we started the process, asked me if I had thought about trying to purchase the home instead of renting again. My immediate response was no, with our credit and no money down, I didn't think we would ever qualify for a mortgage, or if we did, the rates would be to high. She kept mentioning how cheap the current home prices were and how low mortgage rates were, so I just decided to start doing some digging. After quite a bit of research I realized that there really are programs that would allow me to actually buy a house with no money down, even with our bad credit history. And, by no money down, I seriously mean, about absolutely zero dollars out of pocket, including closing costs and it didn't require me borrowing money from family or friends, or asking for some weird rent to purchase option from the seller or asking the seller to take back part of the loan. This was a legitimate 30 year mortgage at the lowest current interest rate.

     I decided to start the process. I figured, what the hell, the worst that could happen is I don't qualify and we continue renting. I have to be honest, I was nervous the mortgage process would be a complete nightmare. I had purchased a home in the past, when we were in a much better financial situation, so I anticipated getting a mortgage this time would be much more difficult. But, I was pleasantly surprised. I almost couldn't believe how easy it really was. So, to make a long story short, I was recently telling a close friend how I managed to buy a house with no money down and even with our terrible credit and he was blown away. We even got an extremely low rate for a 30 year fixed mortgage. My friend happens to be in the process of purchasing a home, he recently went through a divorce and lost his, so he thanked me tremendously for all the information and has since purchased a new home in the exact same way I did with the same great results. Then it hit me, this is great information for people to have. If I can do it, then really anybody can if they just have the right info. So, I decided to write a book, nothing crazy, just a straight forward guide on how to get your mortgage for no money down, even with bad credit. I know there are ton's of people just like me who could benefit from knowing this so I put everything in my book, including everything you will need to start the process, the actual process itself and even the contact information for every state in the U.S. depending on where you live. So if you're currently renting and want to own your own home, your in the process of looking for a new house, or have had some financial difficulties just like me, you can still buy the house of your dreams. I did, so you can too. You can get the book by going here: How To Buy A House With No Money Down & Bad Credit

Definitely let me know what you think about it after you read it and if you have any stories of your own or questions please leave comments.