Home Buying in Tuscaloosa>Question Details

Christina Sh…, Home Buyer in Tuscaloosa, AL


Asked by Christina Shavonne Mckanstry, Tuscaloosa, AL Sun Sep 16, 2012


Help the community by answering this question:


Shavonne 141,

Has your credit improved since you last asked this question. If not you may need to have a loan officer look at your credit report and give you a plan that will have you in your dream home faster. Call me at 205-3104272, I will be happy to walk you through the steps.

Stephaine Royster,
Realty Executives
2 votes Thank Flag Link Wed Jan 16, 2013
Shavone, you should be able to find some lenders that can help you. I am in Birmingham and spoke with a lender about an awesome program they have for scores down to 600 and for people with income of around 50k or so. I can find our if they lend in Tuscaloosa or not if you would like. I can also refer you to a Tuscaloosa Realtor if you would like. Please get in touch and I will get you in touch with people that can help you in your area.

Aaron Sims
Weichert, Realtors-Access Realty
1 vote Thank Flag Link Sun Sep 16, 2012
Please contact me to discuss your chances in owning a home. 205.239.5563
0 votes Thank Flag Link Sun Sep 1, 2013
Yes, Shavonne you should be in good shape.

Get in touch with the many firn Lenders responding to your question.

Best regards
Web Reference: http://www.ruthandperry.com
0 votes Thank Flag Link Sun Sep 1, 2013
For an FHA mortgage, most lenders require a 640+ credit score for the last 2-3 years now. Prospect Mortgage is one of the few direct lenders to offer an FHA 580-639 FICO loan program. Credit profile is a major factor in a mortgage approval. Generally, there should be no late payments, new collections accounts/charge-offs/liens/judgments in the last 12 months. It is required that all open collection accounts must be paid in full if their cumulative balances exceed $1,000.

The 3.5% down payment can be from the borrowers own funds or it can be gifted from a family member. Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified you purchase, you can submit your request online at http://www.rodneymason.com.

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
Web Reference: http://www.rodneymason.com
0 votes Thank Flag Link Mon Sep 17, 2012
Your credit score is one of the factors that Lenders use when determining your credit risk. Generally speaking, the higher your score, the less risk you present to the lender. The interest you will be charge on a mortgage is based in part of your credit score. To get back to your question, the answer is yes. You can buy a house with that score. Shop around for a reliable mortgage broker that can asnwer all the questions that you may have.

Best of Luck,

Maria Cipollone

0 votes Thank Flag Link Sun Sep 16, 2012
Different lenders and loan products have different standards. I am currently working with someone who has a slightly lower score. They just received a loan approval and should be closing in the next few days. Your Realtor should be able to link you with a lender in your area. Are you currently working with a Realtor?
0 votes Thank Flag Link Sun Sep 16, 2012
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