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.