Viewer Question: Can You Buy a House with Bad Credit? Real Estate Investor Explains

This past year has been tough for people buying, selling and even renting across the country. That’s why we asked Property finance specialist Danisha Wrighster — who stars in Netflix’s "Buy My House" — to answer viewer questions on navigating this tough market, including whether it’s a “waste” of money to rent instead of buy and what “hidden” fees can come up when you’re purchasing a new home.  

Here, she answers a question from a viewer named Beverley, who wants to buy a house but feels limited by her credit score: 

"I have been renting an apartment for a few years now and I really want to buy my own home. Unfortunately, between health problems and my children’s student loans, I have been left with a less than perfect credit score. What advice do you have for someone like me who really wants to own a home but has bad credit?” 

First, Danisha encourages Beverley to work on her credit as it is "moveable."  

"You can fix credit, you can work on credit, you can negotiate credit," Danisha says while recalling her own experiences. 

Danisha also tells Beverley that there are loan programs out there that are "100% financed [with] zero down payment [and] zero closing costs." 

Depending on where you live, Danisha says you can seek out organizations such as the Neighborhood Assistance Corporation of America (NACA), which may offer affordable, non-credit-based loans. 

Additionally, based on your area, Bank of America may offer a non-credit-based loan that is determined from your rent and phone payment history. 

"When I bought my house, I bought my house with 100% financing. I did not have great credit," Danisha says, adding, "I figured it out. I refinanced later on." 

Plus, Danisha chimes in on whether it makes sense to buy or rent AND spills all the details on hidden fees when buying a home.