9.  There are many place you can check your credit for free online. From comments I hear from lenders, these sites are helpful, but not generally comprehensive. I would encourage a buyer to start with one of these prior to beginning a formal loan application to purchase a home or property.

11.  It's the three primary credit reporting bureaus report, viewed together. Experian; TransUnion; Equifax

12.  I try to encourage buyer to look at their credit sooner rather than later.Even if some of these sites are not 100% accurate , you are starting to get a better understanding your credit the way the banks, lenders or mortgage company will see and review it. It's a step in the right direction

13.  580.  This is harder to answer because of the many possible variations. Also keep in mind it's not just your credit score but many other factors as well. If you have a low credit score and your average credit score is under 580 plus you have a very small down payment - it can be very difficult to get a mortgage. However, if your score is below 580 and you have a large down payment you can make; your odds are much improved (not necessarily good). If you have a credit score below 580 and you have a great co-borrower, like a parent. This too helps improve your chances of getting the loan, or mortgage.

14.  I would say (and keep in mind different people & different lenders may state this differently) over 620 and you are getting your credit score into the generally acceptable range. As you credit score goes up, it gets easier, or more likely that you can secure a loan. 650, 675, 700 are all typically approvable. 

15.  I would say (and keep in mind different people & different lenders may state this differently) under 620; below this score you can still possibly get approved, but it gets more difficult. Example if a buyer has a 585 middle credit score and is making a 10% or higher down payment. The odds of getting a mortgage loan approval increase. 

16.  No.  A high credit score helps improve the odds, or likelihood you'll get approved. However, a high score is still just a part/portion of the loan approval process. Your total credit history; total debts; time on the job; time in your line of work; and your savings, pension, ROTH, 401K  are also large parts of the process too!

17.  Great is a relative term. I do know there are not very many people who have a credit score over 800. So 800+ is phenomenal! But, if your credit score was 500, and you've climbed that to 620, that's pretty great as well.

18.  By a bad credit score I'll assign that as a credit score under 580. If you're under 580 and you have little or no down payment saved - I won't say it's impossible but it is going to be very difficult. Improving your credit score and saving money are good general steps to start improving your chances.

19. Another good question and difficult to answer. Based on experiences with buyers who have had similar issues; we have been able to get some approved. By we, I mean the buyer working closely with a local, experienced and knowledgeable lender, plus a local knowledgeable real estate agent. With all three parties working together, there have been situations where we got enough of the credit problems explained; got medical providers to change their reporting or correct their reporting or remove inaccuracies in their reporting. Another key, the agent gets the buyer into a purchase contract with a seller willing to contribute to help the buyer . This help can reduce the buyer's  closing costs and in a few circumstances - a seller can pay off a debt for the buyer, as a term of the purchase and closing. So is it easy? No. Does it work all the time? No. But it can and does work with the right circumstances... and the right people, all working together, helping a buyer!

20. There are services which state they will fix, or help fix consumers credit. I cannot remember one buyer who had bad credit, that has told me it worked.  I suggest NOT paying anyone, or paying a service to help on your credit score, or credit improvement. On the other hand, you should work on making it better.

Lenders, loan officers are a good place to look for help. They typically do not charge for the help. The basic reason is if they help improve your credit score and get you mortgage credit worthy.  You'll probably get your loan through them too. Some mortgage loan officers are better at this than others. Some don't, won't or can't do it. Mainly because it takes time and effort. I try to connect borrowers with a mortgage professional who will put in the time, effort and extra work needed to help get potential buyers from wannabies, to actual home owners!

21. This can be simple and other times hard or next to impossible to correct, but you need to get these steps done. Again, I'm not trying to discourage anyone, but I want to provide guidance based on prior experiences. This is another situation where it is important to work with a lender, or loan officer who is willing to help you get through the process. One of the difficulties is: every vendor or institution where the problem exists may have a different process to correct it. A skilled, experienced and motivated mortgage professional can point you in the right direction and even take certain steps to help you through this process of correcting errors in your credit report.

Pain and pleasure. The pain of the problem or error. The pain in the time and effort needed to remove, correct or fix the problem but when accomplished it's another step in the journey of improving your credit - getting pre-approved for a loan or mortgage and getting to the American Dream: home ownership! It is NOT easy, but it can be done.

22. Credit reporting is generally pretty accurate, but not perfect. Imagine if your name is John Smith. Do you think the John Smiths of the world get errors in their reporting? Likely it happens more often.

But in order to know about your credit errors, you need to look into it and do your best to keep track - ideally for free. Ask your local bank, or credit union if they provide any type of dfree or super low cost service to monitor your credit. Maintain a close eye. This way if your credit score has been around 700, and the next month it shows you dropped top 650. The credit tracking hopefully will show what has transpired and if there is an error, you can get it reported and removed. 

23.  This is one that surprises people but often the answer is no. Which is a likely reason the mortgage companies look at three primary credit bureaus and use the middle score from the three.

24.  Here I will comment with my historical view: the three primary credit bureaus are TransUnion, Equifax and Experian. Now different lenders may provide different answers, but over many years and most lenders, this has been true. 

25.  No. Yes. Maybe. That's an all-over-the-place answer! For most the answer is no, but that's not true for all. One  exception is for veteran of military service in the US who are honorably discharged. Vets are eligible to use a VA (Veterans Administration) loan which is as low as $0 down payment. Another $0 down payment program is USDA. USDA have a minimum credit score of 640 and are generally available in more rural areas. Another no down payment option is if your family gifts the down payment but that can be different with different lenders and various credit factors. USDA loans are for more rural properties. Not in dense urban areas. 

26.  Yes, for many buyers and particularly for first time home buyers there are many different programs and options. One warning about down payment assistance programs: they often have different stipulations and criteria on who can use them, as well as how you become eligible to use them. Look at the question listed here for "List of down payment assistance programs." In some cases you may have to attend classes in person or complete work online. This will be at best a partial list but can help get you started.

The last warning I'll call a common sense view: when do you truly get something for nothing? It can happen but it's uncommon. So that's another factor to keep in mind; if you get down payment assistance, make sure you understand if there are costs built in that could cost you more money than the initial help received. A good example may be that you got down payment assistance but paid a higher interest rate on the funds borrowed. The higher interest rate could cost a lot more in a long term view. This will not be true in all programs. But as a Know the Numbers real estate agent. I want clients to make decisions with as much information as is possible.  

27.  Yes, typically. Now I would add, if you have a down payment saved and just want to use the assistance to keep cash on hand. That could exclude you from some programs. You should ask what your mortgage payment would be if you make a down payment, and compare.  Also ask if the interest rate is different with a down payment versus using assistance and having no down payment.  

28.  Three and a half percent. 3.5%. So if the home purchase contract price is $311,000; the down payment portion is determined by the price $311,000 x .035% (3.5% min DP) = $10,885: the down payment needed. For this example. Note there are down payment assistance programs that can reduce this amount a little to completely.

29.  Three percent. 3.0%. So if the home purchase contract price is $311,000; the down payment portion is determined by the price $311,000 x .03% (3.0% min DP) = $9,330: the down payment needed. For this example. Note there are down payment assistance programs that can reduce this amount a little to completely.

30.  Good question. Why use FHA if Conventional loans allow the purchase with less down payment: if you can use either one and the goal is to get into home, or property ownership with as little out of pocket as possible then Conventional is a good option - as long as you qualify. FHA loans are more lenient when it comes to lower credit scores and sometimes it may be the only loan program where a buyer can be approved. 

31.  No. While the flexibility of the FHA loan programs is key for some buyers with less than perfect credit; most FHA loans are to normal borrowers with good or even great credit. There also are situations where the best interest rate available is with an FHA loan, which essentially acts like a magnet, attracting the borrowers. Like a magnet to steel. A lower rate means lower payments and all buyers like that. The other big attraction to FHA loans is the ratios of debt to mortgage payment, and total debt to income are higher than conventional. Meaning you can have more debt and still qualify on FHA, versus conventional. 

32.  $0. Yes this can be a true no money down payment loan. I've had VA buyers get a check back at closing. Now this is typically, in part due to the earnest money deposit they made when the contract was accepted.

33.  Yes. A veteran can put down $0 or just go up from there: 1% yes. 2% yes. 5% yes. 10% yes. Almost unlimited.

34.  $0. This is another program where buyers can purchase with a $0 down payment. 

35.  If you meet the USDA minimum credit guidelines of a 640+ credit score and local area income requirements; you can potentially qualify for a Ohio USDA loan. I hear there are some cases, where borrowers with no credit score can be approved. It's another potential option for low-to-moderate income families, and first time home buyers.

36.  Here is a link to the USDA site to see if a property is eligible: Find eligible property for USDA 

37.  This can vary by lender, but often it runs between 10% to 20% down payment