Bad credit: Who to reach out to for mortgage info?

[Gary Dezoysa]

Hi all,

I live outside the US (as a US citizen/expat) and have a 630 credit score, raisable to 650 or more in a few months. I have some credit blemishes, but also a strong, but new income, savings rate of about $70k/year.

I want to work with someone to see what home loans I could qualify for and when. I eventually want to buy a B/C property or two in Toledo or Cleveland.

Questions

1. Is the person I need to contact a mortgage broker, or a specialist of some other type?

2. Should I wait untl ready to buy or are they willing to help people planning 4 to 6 months in advance?

3. As the Ohio markets are my target and I am out of country, should I target MBs in my target investment area? Or are there expat friendly brokers I need to find?

[Brad Hammond]

Hey @Gary Dezoysa, honestly your credit score doesn't sound that bad.  I believe the minimum for a conventional loan is around 670 but don't quote me on that.  You should start with a lender.  Any good lender will give you some basic advice as to how to increase your credit score but if you need more help, they can refer you to someone else.  I would start that process now because it can easily take 3-6 months to repair your credit.  

Any investor-friendly agent should be able to help you.  Ask them if they have experience working with out-of-state investors, but the process will more or less be the same.