Help! First time buyer!

2 Replies

Hello everyone! I want to take advantage of the first time buyer program here in Illinois. Now here’s the thing I’ve been a stay at home mom for about 4 years & I don’t qualify for a loan since I need a 2 year work history. Also, my credit score is around the 500 what can I do to get a loan? I’m already working on my credit. Is there any other way I can qualify for a loan?

I am not a lending officer so maybe one will jump on and help out. Keep working on increasing your credit score. It can be slow but you will get there. Is there a chance that you can have a co-signer on your loan? I bought my first place without two years of work experience as well by having a co-signer. Once I was established in the home, I fixed it up and was able to refinance it to take the other person off the loan. (Still may have issues with the refinance with not job history)

Are you working with some one to repair your credit? Just asking because it can be a mentally draining process if you don't know where to start.  Most cases you can gain a few points by paying off small recent accounts or understanding the dispute process thoroughly.