answersLogoWhite

0

Do you need credit to buy a house?

Updated: 8/17/2019
User Avatar

Wiki User

14y ago

Best Answer

Not if you want a good deal. Unless you buy on contract from a seller.

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Do you need credit to buy a house?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Do you need to have squeeky clean credit to buy a house?

Yes.


Do you need good credit to buy a house?

Yes, in order to obtain a mortgage you will be required to have a good credit record.


Why do i need great credit?

If you want to buy a car or house you need good credit. Some employers run a credit check to determine if you are responsible. Insurance companies run a credit check for you to get insurance.


How much do you save to buy a house?

It will depend on how good your credit is and what you want your payments to be. If the price of a house is $100,000 and your credit is good and your fico score(this is your credit score) is 660 or higher You will need to put down 5%-10 % or $5,000 - $10,000 plus closeings cost of another 4% or $4,000.00 so if your credit is good you will need to save 9% -15% of the cost of the house you want to buy. Now if you have bad credit, you should clean up your credit before you buy. With bad credit your intrest rate will be high and your house payment will be high.


What do you need for to buy a house?

Some things are - A job, money for down payment and good credit.


Can you buy a house if you have a foreclosure on your credit?

you must restore your credit.


What kind of financial certifications do I need to buy a house ?

You do not need any special financial certifications to just buy a house. A good credit score will help though as it will help you qualify for a lower interest rate.


How can one buy a house with bad credit?

If one has bad credit then one can only buy a house if one can convince the mortgage lender that one is able to pay for it. This might need proof that one is paying off any debt and clearing the bad credit record efficiently.


Is it possible to buy a house if you have horrible credit?

no you can not


How can you buy a house with no credit?

Pay cash.


Do you get tax money when you buy your first house?

No, you do not get tax money (or a tax credit) when you buy your first house. As of July 2013, the tax credit for buying your first house is no longer in affect.


What do i need to buy a house?

You need either enough cash to pay the selling price or a down payment, a good credit history and a steady job.