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Want to buy a house with bad credit? Here are some options to consider

Want to buy a house with bad credit? Here are some options to consider

Your credit score matters to mortgage lenders, but that doesn’t mean it’s impossible to buy a house with bad credit. In addition to other loan options, there are other strategies for buying a home if your credit report is less than ideal.

Here are some of the ways you can work toward buying a house with bad credit:

Government subsidized loans

As an alternative to a conventional loan, the U.S. government offers various loan options for qualified borrowers wanting to buy a home. The three most recommended are FHA loans, USDA loans and VA loans.

  • FHA loans are offered by the Federal Housing Administration. An FHA loan is great for first-time homebuyers because of lower minimum credit score requirements and lower down payments.
  • USDA loans are paid for by the U.S. Department of Agriculture. This type of loan can help you buy a house or property in a qualified rural area.
  • VA loans are available from the Department of Veterans Affairs for active military personnel and veterans. These loans typically have a special one-time funding fee instead of a large down payment.

Private loans

Private loans are arranged between the borrower and a private individual lender rather than a mortgage company. Private mortgages typically exist between family members, friends or other personal connections. However, it’s not impossible to find a private mortgage lender on your own.

These types of loans can be much more forgiving when it comes to credit report, but might have other requirements per the individual lender.

Cash

While not always likely, it is possible to buy a house with cash rather than borrow money at all. Otherwise, another strategy for homebuyers with low credit scores is to supplement a mortgage with a cash payment.

For example, if a lender offers you a mortgage with a higher interest rate or higher down payment because of your credit, you can use cash to lighten the financial burden.

These options won’t work for every buyer, but they’re worth considering if you want to buy a house with a low credit score. Keep these strategies in mind when evaluating your financial situation and shopping for a loan.

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Home Design: How to Perfect Your Bedroom's Layout

Bedrooms might seem like simple rooms to determine a layout for in your custom home. However, you can end up with bedrooms that don’t provide enough space or bedrooms with inconvenient layouts if you’re not careful. Keep the following tips in mind to make sure you have bedroom layouts that provide you and your family with comfort and convenience in your new home.

Determine the Size

The size of your bedrooms is an important factor to consider when choosing a layout. Whether you’re designing a main bedroom for adults or a child’s room, you’ll need to make sure the room offers enough space for furniture to fit comfortably. Keep in mind that bedrooms with a more spacious feel might provide a better sleep environment for you and your family, so plan accordingly.

Leave Space Around Furniture

Whether you’re choosing a layout for a bedroom with one large bed or two smaller beds, you’ll need to ensure that there is plenty of room around these items. This helps provide space to get in and out of bed and to move around the room without bumping against furniture. Beds should have a couple feet of space at minimum between them and the wall unless you plan to have beds go right up against the wall. Don’t forget to make sure there will be space around dressers, nightstands and other items as well, so you and your family can move around easily and fully open and close drawers without hitting anything.

Plan for Storage Space

Bedrooms typically have at least one closet for storage. When planning your bedroom layouts, consider where to put closets and how big you would like them to be. To save on wall space, consider including a deeper, walk-in closet for storage. If you’re unable to include deep closets, you might need to take up a bit more wall space and put in a wider closet to ensure enough storage space. You can also include other kinds of built-in storage areas as part of the layout, such as built-in shelves around windows or on walls.

Consider Window Placement

All bedrooms in your home should have at least one window for safety, as well as airflow and light. You can put windows on one wall or multiple walls depending on where each bedroom is in your floor plan. However, be careful not to add too much natural light into your bedroom. This could create an uncomfortable sleep environment, especially on mornings when the sun rises earlier than you and your family do. If possible, consider placing windows opposite doorways in your bedrooms, since this can ensure good airflow when you have the windows and door open.

Include Additional Features

When you’re thinking about the layout for bedrooms in your custom home, consider adding an extra feature or two. For example, include an area for reading, which might include built-in shelves close to a window for additional light. You might also consider having a built-in desk included in your bedrooms as a place to work or study. These features will take up wall space, so make sure you’ll still have plenty of room to fit beds and other items, as well as space around them.

5 Modern Design Trends for Your Home

Design trends are endless. Some stick around while others fade to the wayside — at least away from the public eye. But that doesn't mean you can't enjoy your favorite, personal and timeless trend throughout the years in your home. You may even want to switch it up a bit and incorporate other trends from different eras. Either way, there are ways to make trends work to your advantage.

Here are five modern trend designs that will keep your home looking forever young.

1. Matching Walls, Mismatched Furniture

Accent walls can add a lot of dimension to a space, but they can also be distracting. The new trends are changing in furniture in the home, allowing people to express their own personal style. While it may be tempting to purchase a furniture set to ensure everything matches, try complementary pieces that harmonize.

2.Nostalgia Is In

It might not be for everyone, but décor like flowered wallpaper, fancy china and crocheted throws are coming back into vogue. The goal is to borrow the more comforting aspects of a childhood or grandparent’s home and then spice them up by adding modern touches throughout.

3. Green Cabinets in the Kitchen

Edging out more popular colors of the past, like gray and white, green cabinets are a sustainable choice that is popping up in all shades. From deep to light, the color plays well with many palettes. People with Carrara marble seem particularly pleased with how it highlights the lining in their counters.

4. Environmentally Friendly Fabrics

We’re seeing even more development of this trend in recent months. People are choosing organic or recycled fabrics, like cotton or recycled polyester, over synthetic materials, like rayon or nylon. It’s a trend that’s been going on for a while, but the rate is picking up again.

5. Industrial Styling in Mixed Use Spaces

Rooms that may serve as anything from a workspace to a living room are trending toward industrial styles. This design option makes use of neutral colors and relies heavily on the room’s architecture. High ceilings and exposed stonework provide a great backdrop for the main pieces.

How we live at home has changed for many of us, and that change has sparked some new ideas. As you browse different styles, remember that how you use your home will have a lot to do with which ones you incorporate.