one of the most frequent misconceptions that we encounter in our business is the belief that it is impossible to buy a home without a perfect credit score. But no, if you do not have a perfect credit score, that is not going to prohibit you from buying a home of your own. Here are a few possible workarounds:
You can apply for a mortgage product like an FHA or VA loan that has loose credit qualifications.
You can increase the size of your down payment.
You might be able to qualify for a competitive loan through your other financial metrics. A high income and cash reserves and/or a low debt-to-income (DTI) ratio may help.
You can also try to raise your credit score before you apply for a mortgage. Many borrowers do not realize that there are things they can do right now too improve their scores. During your consultation, we can go over some ideas with you.