You're getting close!
The credit score must be at least 620 until April 1st when the score jumps to 640.
Also, it will depend on the monthly payments for the student loans and any other debts along with the taxes on the home.
Best to talk to a mortgage person (yes, I can help)!
Broker/Owner, Multi-state Licensed Real Estate Brokerage U S Spaces, Inc.
Managing Member, NMLS Certified Mortgage Brokerage U S Loans Mortgage LLC
215.238.9400 East Coast
415.683.6950 West Coast
2043 Locust Street Phila, PA 19103 215.829.8850 x201
4354 Perlita Ave Los Angeles, CA 90039 310-741-7179
Licensed Real Estate Broker PA- U S Spaces, Inc.
Real Estate Broker, CA Dept of Real Estate DRE#01507615
NJ Licensed Real Estate Salesperson- U S Spaces
U S Loans Mortgage LLC #51022
Licensed by the Commonwealth of PA Department of Banking,
Virginia State Corporations Commission, License #MC-4943, State of Florida
California licensed with Signet Mortgage, NMLS# 168365, DRE#01403423
Personal Virginia Mortgage License #MLO-523VA
NMLS Test Certified National License #133975
http://usloans.com for live rates and online mortgage applicationï¿¼
I specialize in Under 640 Fico Score Loans and offer credit repair at no cost to raise fico scores to qualify for programs, rates and terms as necessary. I can raise fico scores within 3-4 days in most cases. It only takes a few dozen questions to qualify you in minutes for the program to best fit your financial needs. Here is a needs list of the documents you need to gather for processing a loan approval. http://tinyurl.com/aepwnh4
Once I speak with you a few minutes and then you gather these documents, I can issue you a pre-approval letter or DU Approval and you can begin shopping for a home of your choice today or this weekend. I can email you listings to consider as well and I am a little out of area but have agents to refer to you once we have you pre-approved. Here are some links to study and consider.
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
20+ Years Experience
9am till 9pm 7 days
I would recommend you go to your bank and speak to a loan officer who would be best able to help you. From what I know, as a Realtor, your credit rating is too low and needs to be improved first.
Typically the bank you normally use is a good start, but only if it's a direct lender (i.e. Bank of America, Chase, Wells Fargo etc). It's good to establish a relationship with a loan officer (the bank's representative who would work with you during the mortgage application process) so make sure it's someone you feel comfortable with. They will look at your income and total debt obligation (along with how much you have saved for a down payment) before they'll be able to give you an answer as to how much you can afford.
Typical items they will need to review are 2 years tax returns and the past few months' paystubs to start. They usually will run your credit also to determine what loan program best suits your needs.
If you would like suggestions of some loan officers in your area, it is helpful to speak with a local real estate. They will have better insight as to what banks (and loan officers) they've had positive experiences with recently and point you in the right direction! It is still a great time to buy
ERA Statewide Realty