Is your bad credit hindering you from getting your dream home? If you need help with construction loans for bad credit histories like yours, then read on. It is possible for you to start building your home even if you have a bad credit history. While it is true that your mortgage approval rating will significantly increase if you have a good credit history, but having a bad credit doesn’t automatically mean that it is the end of the road for you. You just need to take the necessary steps so that your bad credit becomes construction loan approval later on. Bad credit to construction loan approval The best thing to do at the moment is to get a copy of your credit report. Make sure that everything there is factual and updated. Do not discount human error because there may be items there that are not accurate anymore. If you find one, make sure that you point it out and have it removed from your report. Anything that you can pay off, no matter how small it may be, make sure that you start ticking off debts. To creditors, it will look as if you are making good of your debts and have improved on your financial standing. Do not max out all your credit cards and shoot for a debt to credit ratio of 40%. Check out the time frame of your repossessions and bankruptcies. These do not stay forever as they are only reflected between 7-10 years. If you are nearing these dates, hold off construction for the time being and make sure that these are not reflected in your credit report anymore. Loan possibilities Your credit report shouldn’t weigh you down because there are other options that are available for you. If you have saved enough money for a bigger down payment, then that is a good thing. Are you are a member of the military? Then applying for a VA loan can be your ticket to your new home as they offer zero down payment and lenient terms. Construction loan applications should not worry you as there are options available even if you have a bad credit history. Let us know how we can help you start your way towards owning your own home.