I Want To Buy A — House But Have Poor Credit

: Adding a person with strong credit and steady income to your application can help you secure a loan you wouldn't qualify for alone.

: Some lenders, as noted by CNBC Select , look beyond just the three-digit score to examine your overall debt-to-income ratio and savings. Important Considerations

: These are often the most accessible option. Borrowers with a score as low as 500 can qualify with a 10% down payment. If your score is 580 or higher, the down payment requirement may drop to just 3.5%.

: Providing more cash upfront reduces the lender's risk and can sometimes compensate for a lower credit score.

Buying a home with poor credit is challenging but possible through government-backed loans, specialized "non-QM" programs, and strategic financial planning. While conventional lenders typically look for a score of at least 620, several paths exist for those below that threshold. Low-Credit Mortgage Options

: Be aware that once your mortgage is finalized, your credit score may temporarily drop by 15 to 40 points as the new debt is reported. Best Mortgage Lenders For Bad Credit in April 2026 - CNBC

: Non-Qualified Mortgages don't follow standard federal rules. They are designed for buyers with unique financial situations, such as recent bankruptcy or poor credit, though they often come with higher interest rates.