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Amandabramha…, Home Buyer in Dallas, TX

how high does your credit score have to be to buy a home?

Asked by Amandabramhall, Dallas, TX Thu Jan 7, 2010

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0 pay cash it does not matter.

If you want to borrow money, it depends. over 620 to get a loan. Over 700 to get a good rate on a loan. Various lenders may have slightly higher or lower fico score requirements. Looking around can't hurt.
0 votes Thank Flag Link Thu Jan 7, 2010
If you've had trouble paying your bills recently, or if you're already carrying a lot of debt, you shouldn't be taking on a 30-year obligation.

If you've been a good boy or girl, and been right on time with all your bills, then you will likely be OK.

As a practical matter, there are people who will lend money at almost any credit score, and the pricing isn't anything close to usurious.
0 votes Thank Flag Link Thu Jan 7, 2010
All lenders have a minimum credit score that they will consider, but not all lenders have the same number in mind. For example, I have a lender who will take a 600, but I have another lender who will not consider anything less than a 630. The main thing to keep in mind is that the higher your credit score, the better interest rate you will get. Also, you want to make sure you are dealing with a reputable lender. I see that you are in Dallas. I actually closed a deal in 2009 using a lender out of the Dallas area and he was fantastic. E-mail me if you are interested in his contact information. Hope this is helpful to you!
0 votes Thank Flag Link Thu Jan 7, 2010
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