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How To Buy a House With Bad Credit in Mercer County, NJ

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How To Buy a House With Bad Credit in Mercer County, NJ

The Most Frequently Asked Questions

How Does Your Financing Work?

We offer owner financing or lease purchase rent where we can sell you the home without you having to qualify at a bank.

How Much Down Payment Do I Need?

We are very flexible with down payment.  We can offer you many options and we will always do our best to work with whatever funds you have available. You can even start out on a lease purchase and then move to owner financing at a later date when you have the additional money.

What Methods Of Down Payment Are Accepted?

Unlike most lending institutions, we accept borrowed funds for closing.  If you have a close friend or relative willing to lend you money for your down payment you can use that in our programs.  You may also be eligible to withdraw or borrow from your 401K to purchase a home without penalties. We also accept trades.

Do You Offer Down Payment Assistance Programs?

Yes we do.  A lot of times if you are a bit short on down payment we can set up a monthly payment plan spread out over 6-12 months.

How Does Your Lease Purchase Program Work?

We can lease you the home with the exclusive right to purchase it at a later date.  Our buyers love it because it gives them time to save up for a larger down payment; time to clean up past credit problems, time to sell another home, and also time to try out the neighborhood before buying.  We are obligated to sell to you, however you are not obligated to buy

What Is The Interest Rate On Your Owner Financing?

We have many different financing plans available to meet you needs. For us to find the BEST financing plan for you all you will need to do is send in the no cost, no obligation, easy application.  We work with good, fair, and ugly credit, and applications are necessary to verify income and employment.  We will then get back to you in 24 to 48 hours.

I Love The Home, What Is The Next Step? 

All we need is your application.   You can even fax it in for faster processing!  We will then contact you within 24 hours once we verify income and employment.  Please keep in mind that our homes sell quickly so time is of the essence.

How can I buy a home when I have bad credit?
You can’t through conventional lenders, but you can with our help.  Through our Lease Purchase, we can help you improve your credit over time.  We are not extremely interested in your past credit status.  Your ability to make reasonable monthly payments and your desire to be a homeowner are important to us.  We work with fantastic mortgage brokers and banks who will help arrange a loan for you.  It is absolutely critical that you pay your rent on time every month in order to get approved for a mortgage.

Do I have to ‘qualify’ for this program?
Not in the usual sense of having to meet certain income and debt ratios, or achieving a certain credit score as would be necessary for most mortgage companies. Your credit and finances are not the restriction they would be with a conventional mortgage company. Although it actually makes sense to buy a home this way even if you could get conventional financing today, many of our buyers do have some issues that need some time to be resolved.


If you have additional questions please call us today at 732-659-0588, or visit our website @ www.fchomesbroward.com

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