While these options exist, they come with trade-offs that you should discuss with a professional at Chase Bank or Rocket Mortgage :
If you don't qualify for government programs, you may need to look at unconventional routes: bad credit buy a house with no money down
: In this scenario, the seller acts as the bank. You make monthly payments directly to them. Because there’s no traditional lender involved, credit and down payment requirements are entirely negotiable. While these options exist, they come with trade-offs
FHA loans are the "gold standard" for bad credit, but they typically require 3.5% down. To get to "no money down," you have to pair an FHA loan with assistance. FHA loans are the "gold standard" for bad
: According to CNBC Select , you can qualify for an FHA loan with a score as low as 500 (with 10% down) or 580 (with 3.5% down).