Bad or No Credit Record but need a house? Get Up. Buy Your First Home.

Wait. How? How, is a great question. In South Africa and the rest of Africa, a huge number of people are unable to obtain a home loan because they can barely feed themselves. Yet, owning a house seems like the start of an escape rout from poverty. My question today is, can you buy a house with bad or no credit record?

  • Somehow sometime, YES, you can invest your money in real estate with bad credit and most often NO, you probably shouldn’t.

Like many people young and old, I am also a victim of the debt trap; loans, credit cards, car loans, etc. I have used one credit or debit card to pay another. I quickly maxed out more than one credit card. Credit, or being in debt is a dangerous game. Yet, we have all been young and dumb, and sometimes, it is 100 percent not our fault. In some cases, someone stole our identity or our money and got us messed up.

I have realised I had a problem with debts, and I needed to change. So, I am working on my change with the hope to pull you along.

There are many ways to buy a house with bad (or no) credit, before you buy, try to but master these tips on fixing your credit record first:

  • Spend less. Way lesser
  • Commit to fixing your debt problem.
  • Start making more or extra income.
  • Reduce what you give to family members monthly
  • Lower your balances.
  • Stop applying for credit.
  • Pay everything on time, no Matter what.
  • Consider getting a secured credit card.
  • Do not consume what you cannot afford
  • What Credit Score Do You Need to Qualify for a Traditional Home Loan?

As soon as you have put things in order, you can set out to get a property.. remember that if you get a property without clearing yourself, probability if high that you could either loose the property of stay longer in debt. Assuming that you are ready to buy, consider answering these questions;

  • Can you buy a property with a bank loan?
    Can you buy a property through a partnership.
  • Can you buy a property through rent to buy?
  • Can you buy a property by getting money from a loan shack?
  • Can you buy a property by getting loans from private money lenders.
  • Can you be a property whole seller? Get a license

Voila, enjoy your wealth and do so graciously.

By Victorine Mbong Shu.

Victorine is in education and training since 2002. She is the CEO of Profounder Intelligence Management Services, a Peak Performance Authority Coach, a Publisher, Editor, Researcher, Transformational Speaker, Mentor, Material Developer, Facilitator, Assessor, Moderator and TV Talk Show Host at Children Television South Africa (CTVSA). She is the owner of Profound Conference Centre in Bramley-JHB. She and Dr. Fru are raising 4 bubbly children, including Africa’s youngest multiple award-winning author of chapter books, Stacey Fru. Victorine is a respectable Involved Parenting Conversationalist with a Master’s Degree in Communications. She is a BrandSA Ambassador and Awards Winning Author of the following books:

  • ‘Stop Complaining! and Bring Back Involved Parenting, 2016’
  • ‘Trapped in our shadows, 2017’
  • ‘Proven habits for financial freedom, 2018’
  • ‘S’EX, 2018’
  • ‘Not too late: Bring Back Involved Parenting, 2019’



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