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Just FYI to other posters, the OP was a teaser for advertising the OP's business pushing seller financed homes. The punch line post was removed by the moderator.
If you only have $1,000 to put down you probably won't have enough money left to do repairs anyway.
Do you have any friends with money who may want to buy a house with you? Maybe they can put down the money and you can do the work. (Assuming you are handy)
No money down is not extremely difficult to overcome. Bad credit is another thing. About the only way you might get something with poor credit is through a FSBO doing their own financing, or through a mortgage lender that is still providing sub-prime, no-doc type loans. However, few of those exist because nobody will buy loans from them.
Robbie V, if your credit scores are lower than 580, and you do not have proof of how you pay your rent for the previous 12 months, plus you do not have your own 3.5% down payment, you will not be able to purchase a home through a FHA lender. Having said that, you can spend a little time and money to have your credit restored and repaired to get your scores to the 620 scores so that you could be eligible for some great down payment assistance program through the City of San Antonio and the bond programs through the state. This will pay for your down payment and part of your closing costs.
As a mortgage banker, I refer my credit-challenged clients to www.640orfree.com/sanantonio to get their credit to at least the 620 score. Most of my clients who have used this service has seen great success. This company does it exactly what it says. If you follow their direction, your scores will rise.
Keeshonder, with RESPA, the new GFE and the rules for high-priced loans, no one is writing any sub-prime loans. There is but one lender that is doing no-doc loans, but this company requires 720 credit scores and 20% down payment, and they base the income only on a stated VOE. But, the Borrower has to be a wage-earner and not self-employed. This does not fit rcrjm's criteria at all.
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