Utilize investment portfolio:
This is a lot over looked way of getting a bad credit home loan. If you have a good investment portfolio, then you may have that for collateral on a home loan, even though you do have weak credit and no down payment. Actually what happens is if you default on it, you will have to surrender your investments to the lender. Now, this can mostly only be done if you have a flourishing investment portfolio. This means, there has to be a good amount of money in there for them to even look at it.
Have a co-signer:
If you have somebody with good credit rating, that already owns their own home, and they are prepared to put in some risk, they can co-sign for you. This can be a little bit of a friendship pressure, as they would keep constantly bugging you to confirm that you are paying the installments. Because, if you fail to pay, it is on their heads to take care of it.
Just to get 1 thing straight. THEY DO NOT OWN your home with you, they just vouched for you, and will be liable for it if anything happens to you, that is all. Some people get it wrong, and presume they own it simply because they co-signed for it.
Now that you have read this article, you will be able to get your own bad credit home loans with no money down. All you need is a good investment portfolio, or a co-signer, and you will be all set. Just to be on the safe side, have both, this way if they deny one, you have the other as back up.
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