So you’ve been quite irresponsible in the past. You failed to pay your loan on time. You’ve been career shifting for years and got tons of employers through decades. You’ve maximize your credit card and didn’t manage to salvage it. Now ,you regret what you’ve done. You wish that you have been better with your finances, especially now that you wish to get a home loan. Low credit score home loans seem to be a myth after all.

But don’t worry. There are still ways for you to get a home loan despite of your low credit score. Here are some of the technique that you definitely take a look at:

Ask for a re-check

Sometimes the bank or the lender overlook some parts of the report that you have sent. Maybe they missed out on some factors on your credit score that completely hinder you from getting a home loan. If this is the case, then review your report, find out if there’s anything wrong. If there is one, then send it to the bank or to the lender and ask for a review.

Ask for a co-signer

A co-signer is the other person in the contract who is willing to aid you with the home loan. He or she can be a family member or a friend of yours. Choose your co-signer based on his or her credit score. If your chosen co-signer has a good credit score, then the bank or the borrower won’t hesitate to give you a loan. Maintain a good relationship with your co-signer by paying your debts and fees responsibly.

Salvage your credit score

Yes, there’s still a chance for you to save your credit score. Making good financial decision is what it takes to save your credit history. Pay off all your previous debts. Make sure that you won’t make new ones that you’re not sure if you’re going to pay easily. Resist opening new credit cards that will only put you on so much debt. Manage your finances well and you’re on the road on getting your credit history back on track.

credit score for home loan

(Check Out: Worry No More: Here’s Where to Get Home Loan with Bad Credit)

Ask around for credit unions

Ask your office if there are any credit unions available in your establishment. Credit unions are non-profit organization that will lend you money. Members of credit unions are usually on the same industry, so tracking those who borrowed money is not that difficult.

More down payment

Some lenders might offset low credit score when they see that you’re willing to pay big for the down payment. This is also a very win-win situation since bigger down payment gives you an opportunity to build your equity.

Turn your head to non-conventional loans

Non-conventional loans meaning loans that are not from the bank or an authorized lender. If your old folks have a bit extra on their cash, then ask to borrow it. You can also do that to some of your well-off friends and family members. Just make sure that you pay for these loans and that everything has a written agreement in tack.