Gabrielle J…, Renter in Inver Grove Heights,...

what kind of credit do u really need to buy a home?

Asked by Gabrielle J Skarda, Inver Grove Heights, MN Mon Aug 16, 2010

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Patti Ann Kasper’s answer
That very much depends on the lender and the type of loan. FHA loans have different guidelines than others.

Try contacting the Minnesota Housing Finance Agency for information. They have lots of good information on buying a home and offer low interest loans to some home buyers based on income:

They are a really great resource. Also check out the Home Buyer's Handbook at the Minnesota Attorney General's website:
0 votes Thank Flag Link Wed Aug 18, 2010
Hi Gabrielle,

I would be happy to run your credit report to see if we can find you a mortgage that fits your needs. There are a few factors and I'll be happy to work with you to explain the criteria and process. Email me at: or call me at 952-270-4183

Sue Straub, Broker, Mortgage Broker
Royal Real Estate and Granite Mortgage
0 votes Thank Flag Link Mon Aug 16, 2010
As Lynn stated, a 640 is a good starting point. Some of the bond programs and other first-time homebuyer incentives vary. If you want any loan officer referrals, please feel free to call/email.

Scott Hutchinson
Edina Realty (search all properties)
C: 612 396-0692
0 votes Thank Flag Link Mon Aug 16, 2010

Most lender require:

620 + credit score
2 years of solid work history
Debt / income ratio in balance
3.5% or more down payment

Few of major areas

Contact a mortgage broker review your options

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Mon Aug 16, 2010
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