Salt Lake City Real Estate Tips, Market Updates and

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By Real Estate Expert KathyOHomes

Can You Still Purchase a House If You Do Not Have Good Credit by expert Kathy Opolski

Unfortunately, the answer to this question does not look good. Bankers in Salt Lake City Utah have tightened the purse strings. You have to have a down payment. You have to have a good job making money. What is a person to do? In our discussion today, we will look at some alternatives.

Tip #1 – Examine Your Credit Report

Get a copy of your credit report and seriously take a look at it. If you have some negative entries that are easily taken care of, then go ahead and take care of them. Once they are taken care of, you always have the possibility of applying for the loan again.

Tip #2 – Examine Any Seller Financing Options

You can always look around for homes in Salt Lake City Utah that are being sold and are being financed solely by the owner. In these cases, you might want to offer to put something down with good payment terms and find that the house Salt Lake City Utah may be yours to move into.

Tip #3 – Consider Other Types of Dwellings

Have you ever considered a mobile home? You may not want to go this route, but is really a viable option. You may not have the funds to get into a house, but you might be able to get financing for a mobile home. You might want to consider purchasing a lot of some land. This may delay the purchase of a home, however, it may give you time to clear up your credit, and also pay off the land. Once you have the land, then you are free to do whatever you want with it.

Tip #4 – Buy a house with someone else

If you have the down payment but you don’t have the credit, it is a possibility that there is someone you know that might go in with you and purchase a home. Of course you must be very careful to spell out the arrangements before you sign anything, but again this is another possibility.

These are just four options. With patience and persistence, it is possible for you to find a home to purchase if you have poor credit or no down payment. If it is difficult for you to get traditional financing, then your job is to find that one motivated seller

There is a lot of free information available to you about buying, selling or investing in Salt Lake City Utah real estate. For complete information about the Salt Lake City Utah real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Salt Lake City Utah real estate. So please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.