Buying a home with bad credit in Georgia requires a little research. Since the area you live in determines the price of homes, consider branching out and living in a metro or rural area. For instance, Marietta has homes that are cheaper, yet comparable to homes in Atlanta.
Planning to buy a home in Georgia with bad credit requires you to save money. Even lenders that offer loans require a larger down payment if your credit is poor. Set a budget and deposit money into a savings account each month.
Consider applying for a Federal Housing Administration, or FHA, loan to purchase a house in Georgia. FHA uses a scorecard to qualify you for a loan that factors in employment history, income and credit score. Therefore, bad credit may be offset by a strong employment history. Use the U.S. Department of Housing and Urban Development (HUD) website to locate a lender in Georgia.
Locate a home in Georgia that falls within your income guidelines. For instance, if you are pre-approved for a home up to $70,000, look in areas that are rural, such as Jackson, Georgia, where homes are priced less than those in larger cities, like Macon. Request a family member with good credit to co-sign with you on the home loan.
Check the local newspapers, such as The Atlanta Journal-Constitution, for homes in Georgia for sale by owner. Contact the homeowners and ask if they would consider owner financing for the home.
Amanda Maddox began writing professionally in 2007. Her work appears on various websites focusing on topics about medical billing, coding, real estate, insurance, accounting and business. Maddox has her insurance and real estate licenses and holds an Associate of Applied Science in accounting and business administration from Wallace State Community College.