Financing in 92019>Question Details

Ilovesalt, Home Buyer in 17268

first time home purchase in PA with a credit score just under 600? possible? ilovesalt@live.com

Asked by Ilovesalt, 17268 Wed Oct 13, 2010

my fiance and i would like to purchase our first home in PA but due to a number of factors his credit score isn't great. the worst thing that happened was an auto loan that he co-signed on fell delinquent last dec09-jan10....we found out about it and worked with the other person on the loan to get it current and it's stayed current since feb i believe. however his score went down like a hundred points due to that. it was over 600 but fell to the high 400's/low 500s....we have been working to keep it moving upward and earlier this summer pulled a report ourselves and found the scores were like in the high 580s....don't know exactly where they stand at this moment but i assume not too much different....he has one collection for a line of credit that was used to repair a car several yrs ago but they've sold and changed and been awful to work with and we can't pay it all off so there it sits as a chargeoff/collection. other than that nothing major. can anyone help?

0 votes Share Flag Financing in 92019

Help the community by answering this question:

Answers

1
Obtain an accurate mortgage score contact a loan officer who can determine all the facts.

However most lenders require 625 + score, 3.5% as down payment, 2 year work history, debt / income in check much more.

Published blog which might assist you: http://www.lynn911.com/Web/AR287090/CustomContent/index/5032451

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Wed Oct 13, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer