Let's first start off with the most important question –

What Does Bad Credit Mean?

The term "bad credit" can actually mean many things to many people.

• Client #1 told us that they have good credit because they don't owe any money.
• Client #2 told us that they had good credit because even though they were 90 days late on payments, they were making them on time!
• Client #3 told us that they had "bad credit" because they missed one $20 payment three years ago
• And client #4 told us they had five credit cards all paid on time, but they had one $200 doctor bill as "bad credit"

So Who is Right? What Really Is Bad Credit?

To a degree.... All of them are correct!

A 750 credit score or above means you have "excellent credit", a 700 to 749 means you have "good credit", a 650 to 699 means you have “fair credit” and anything under a 650 is defined as "bad credit." Look at this chart here!

Two of the four people in the scenario above had under a 650 credit score: examples #1 and #2. Client #3 was over 700 and client #4 sat between 650 and 700! Five things make up your credit score – see the chart below!

35% of your credit score are voluntary on-time bill payments! You buy a car, you pay it on time, and that represents that much of your score.

30% of your score is the amount of debt you have. So if you have a $500 credit card and you pay it off, DON'T CLOSE IT. Keeping it OPEN makes you look like you’re disciplined with your finances. Your score actually goes up. That’s 30% of your score right there.

Lastly, 15% of your score is your history; so if you have bad credit older than 24 months, it won't affect your credit score nearly as much as negative items within the last 6 months!

So Can You Buy a Home with "Bad Credit"? ABSOLUTELY! Here's How:

FHA Loans can be obtained with a 580 credit score. Now you must have COMPENSATING FACTORS, so check with a home loan lender to find out the guidelines about buying a home with a 580 credit score!

Truth be told, you will want to get your credit score up above 640, so can qualify for DOWN PAYMENT ASSISTANCE! You see, you can get a down payment grant toward the down payment, closing costs and prepaid's, between $3,000 to $15,000, moving in with zero out of pocket! (You need to check with your local, county, state and federal programs in your area. Your home loan lender will know.)

In other words…. Get your credit score as high as possible! Find out how much down payment assistance you may qualify for by taking our down payment survey!

Now what can you do if you have bad credit under 580, or if you’re still denied with a 580+ score but NO COMPENSATING FACTORS? Know that HOPE is not lost! Let's talk about some options if you have REALLY BAD CREDIT:

Option #1 - Call a credit repair company to legally dispute all negative information on your report! Did you know if you have bad credit, there is a 300% chance that you have one bad tem listed MULTIPLE TIMES?? We often find that the worse your credit, the more things end up reported MULTIPLE TIMES. We highly recommend Lexington Law at 833-334-8839, and they will give you a FREE CREDIT EVALUATION! You can also check out other credit repair companies HERE.

Option #2 - Start with a rent-to-own home! You can join a rent-to-own program HERE, allowing you to find a home, then work on fixing your bad credit in the future. Rent-to-own means you will rent a home for a predetermined amount of time and then qualify for a loan to buy that home at some predetermined date in the future! Again, you WILL HAVE TO QUALIFY FOR A HOME LOAN. Very important to remember that.

Option #3 - Join the Home Blitz Program! The Home Blitz Program (AKA “The Blitz Program”) has three steps to it and can help you get credit ready very quickly:

1. It will help you dispute and remove bad credit items.
2. It will help add new credit lines, such as the Sub Prime Credit Store, The E Commerce Card and the Beverly Tails Pet Store, affecting your score by up to 80%!
3. And it will even search for down payment assistance, a local lender and realtor the moment you reach credit-ready status.

If you have bad credit, you may want to join The Blitz Program. You can do that right HERE. If you want to know how long it may take you to get credit ready, see below:

Below Is an Estimate of How Long It Will Take You to Become Credit Ready to Buy a Home with The Blitz Program!

640+= NOW

600-639= 1-3 MONTHS

550-599= 4-6 MONTHS

500-549= 7-12 MONTHS

500 AND BELOW= 12 MONTHS

You can join the BLITZ PROGRAM HERE and talk to a specialist today!

Do you know what your current credit score even is? EVERYTHING starts with your CURRENT CREDIT SCORE! And we say CURRENT as your credit score changes daily! So if you checked out your credit score three months ago, chances are good they’ve changed….

GET YOUR CURRENT CREDIT SCORE HERE