So, my credit score has been pretty rough the past few years (long story short: student loans, a couple missed payments, and a medical bill that blindsided me). Anyway, I figured buying a house was totally off the table, but my cousin told me about this online lender that supposedly helps people with less-than-stellar credit get pre-approved. I was skeptical, but figured, eh, what the heck, might as well give it a shot.
Surprisingly, the process wasn't too painful. They asked for some basic info, income verification, and stuff like that. Within a day or two, I actually got a pre-approval letter. The interest rate they offered wasn't amazing, but honestly better than I expected considering my credit situation.
Now I'm wondering if this is too good to be true or if anyone else has had a similar experience. Has anyone else tried one of these lenders who claim to help people with bad credit? Did it actually work out or did things get messy later on?
- Be careful with online lenders promising easy approvals—sometimes hidden fees or penalties pop up later.
- Might wanna check with a local credit union first; they're usually more flexible and transparent.
- Also, improving your credit even slightly could save you thousands long-term.
Definitely agree on the credit union route—had a client once whose credit was pretty rough, but after about 6 months of careful budgeting and paying down some smaller debts, their score jumped enough to snag a decent mortgage. Slow and steady usually beats quick fixes...
Credit unions are solid, but honestly, I had a bit of a different experience. My credit was pretty shaky after some dumb decisions in my early twenties (let's just say credit cards and impulse buys don't mix well...). Anyway, when I went to refinance my home a couple years back, the credit union route didn't pan out for me right away. They were helpful, sure, but they wanted me to wait even longer and get my score up higher before they'd approve the refinance.
Ended up chatting with a local mortgage broker who pointed me toward an FHA refinance option instead. It wasn't perfect—interest was slightly higher—but it got me approved quicker and actually helped me rebuild credit faster. After about a year or so of steady payments, I refinanced again into something way better.
So yeah, slow and steady is definitely good advice overall...but sometimes exploring other options can pay off too. Guess it depends on your timeline and how patient you're feeling?
