Diamonds Real Estate, Inc.
Always compare your scenario with at least 3 lenders, but, try to avoid having your credit run numerous times.
Happy to help!
I just read your comment about using Quicken Loan, my advice would be do not do this. Do yourself a huge favor and work with a good, reputable local lender. I've been doing this for more than 20 years and I have never had a client who has used an Internet Loan company be happy when the day was done. You want to work with someone whose office you can walk into and who will explain to you that if you take certain types of loans you're going to be paying a real penalty in terms of interest rate or loan fees.
Again, feel free to contact me through my profile if you'd like some names and numbers of local lenders I know to be honest, professional and hyper competitive in terms of rates. I hate seeing people get taken advantage of and if there's one thing you should take away from the financial meltdown, its that banks are not to be trusted.
So long answer short- Yes.
If you'd be interested in speaking to any of these lenders feel free to contact me directly through my profile and I'd be happy to give you their names and numbers. I live in Durham know it well and specialize in helping first time buyers like yourself. If I can be of any assistance I'd be happy to help you.
Lenders look at more than just the score on a credit report - they review what is keeping your score from being higher, the timeliness of your payments, etc., so finding a lender with a program that accepts your score is just the first step.
Best wishes and hapy househunting!
You can still get credit on certain types of homes, but be prepared for some scrutiny from the bank regarding the appraised value, and don't pay an application fee until you have a Good Faith Estimate on closing costs.
Please make sure you can afford the home, and have a reasonable rainy day fund should another negative event happen AGAIN.