Is it possible to buy a house with bad credit?
On One Hand: Yes, You CanA bad credit history alone will not prevent someone from purchasing a house. There is no law that forbids people with bad credit from purchasing a home. Anyone who can convincingly demonstrate their financial ability to purchase house–even people with poor credit ratings–will likely be able to find a lender.On the Other: It May Cost YouBecause lenders usually consider people with bad credit ratings to be at a higher risk of defaulting on their loans, they often charge higher rates of interest to people from this group when they seek to take out a mortgage. Borrowers with bad credit may also be required to provide a higher down payment.Bottom LinePeople with bad credit can still buy a house, although borrowing the money necessary to purchase that house is trickier. Many lenders are still willing to offer mortgages to people with poor credit ratings, but these people may face exorbitant interest rates that, as witnessed in the 2008-2009 mortgage crisis, can res
