I m in Va, Do I need to have good credit to buy and sell homes, and do lender or investers care if they have the posibility to make a good profit?..thanks for the answers…and the help ;D
Not necessarily. You should have SOME credit though, as few lenders will lend to borrowers without any credit (it’s too great of a risk for them). There are several lenders that will work with poor credit though. When working with poor credit borrowers, the lender will certainly want to see a good loan-to-value ratio on the property, as it makes the deal “safer” for them. As for investors caring about profit, that’s exactly what they’re looking for (they are looking to “invest”).
You need to get pre-approved. Let the experts advise you on your scenario.