Can a Felon Buy Property?

After being released from incarceration, an ex convict may feel as though they have to start completely over. This can be, in a way, a positive fact. Having a fresh start can at times be beneficial.

A new start may include moving to a new city. This may have you wondering, can a felon buy property?

Keep reading to learn more about who can qualify for purchasing property and what the requirements are.

can a felon buy property

Where Do You Begin?

There are many different things that go into buying property. It can be a long and grueling process. It is good to know what to have prepared in order for the process to go smoothly.

It is important to first get down to the numbers. You must know realistically how much money the property will end up costing you. It is recommended that the cost be no more than three to five times the household’s annual income.

Once you have personally decided how much you can and want to spend, you must seek out a mortgage. Getting prequalified for a mortgage will tell you exactly how much you can actually spend.

Getting Prequalified

can felon buy property

You must determine who your lender will be. There are many mortgage bankers out there. Word of mouth or a bit of online research can help you to determine who you should seek a loan from.

Mortgage bankers will require some personal and financial information from you. Some of this information includes listing your income as well as the amount of savings that you have.

The lender will then be able to review and assess your information in order to properly tell you how much they would be willing to give.

Types of Loans

can felons buy property

There are different types of loans that those seeking property can apply for.

FHA and USDA are two types of loans that are typically easier to obtain for those who don’t have the highest credit score. An FHA loan is the most popular when it comes to first time property owners.

A Federal Housing Loan is a mortgage that one can obtain through a FHA-approved lender. These loans are designed specifically to benefit low-to-moderate-income borrowers. The loans typically have low down payments. They also have minimal credit score requirements. For instance, an applicant must have a credit score of at least 580.

As follows are a few of the other requirements for an FHA loan:

  • Having proof of at least, two years of employment
  • The applicant cannot have declared bankruptcy in the past two years
  • The applicant cannot have any federal debt, including restitution

Applying for an FHA loan in particular will be the most beneficial for someone such as an ex convict.

Once you have been approved for a mortgage, the fun can begin.

Property Search

Searching for the perfect property can be a fun and exciting ride! It can also be a very difficult and lengthy process. It can be very beneficial to partner with a real estate agent to help you along the way.

Real Estate Agents

can the felons buy the property

Real estate agents can help inform you about property facts that are not accessible to the public.

Their knowledge when it comes to the buying process and negotiating can also benefit you.

They will only present you with property listings that they know you will be able to afford. This can help to not feel overwhelmed and to not apply for something you have no chance in purchasing.

Trust the Process

All good things do take time. This is true when you are deciding on a property to buy.

Buying property is one of the largest investments that a person will make. You want to ensure that you are purchasing the best possible property for your wants and needs.

So, you’re ready to begin this long but rewarding process but you’re worried your criminal record will stand in the way? Keep reading to learn if your criminal record will affect your desire for purchasing property.

Chance for Felons

can the felons buy property

There are no laws or rules out there stating that a felon cannot purchase property. The fact is though, it will not be the easiest venture for a felon. But, it can be extremely rewarding.

This is great news for someone with a criminal record. There are a few recommended steps that one should take in order to stand a better chance.

As a felon, you must re-establish a positive work history. One way of doing this is through staying at a job for a certain amount of time. A positive work history can also mean having your current or previous boss be listed as a reference.

Having a good credit score is crucial. Rebuilding a credit score can be difficult and it may be a long process. It is a requirement and it is not impossible to achieve a good credit score! Rebuilding it one day at a time will be well worth it in the end.

Having positive support from family members and friends can be very beneficial. They can help to encourage you to never give up on your dreams of owning property.

The process of purchasing property can be a tough one, this should not discourage you from wanting a new start. Instead, let it be a motivation for you so that you can truly show how far you have come.


The process of purchasing property can be a lengthy and difficult process. There are numerous steps that an applicant must take.

Just because you have been convicted of a felony does not mean that you cannot purchase property. This does not mean it will be easy though.

There is some recommended action for any ex felon who is looking to purchase a property. It is important to rebuild a positive work history and a good credit score. Having the support of family and friends throughout the process can be very beneficial as well.

Always remember to stay positive and keep moving forward.

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