Home Buying in Las Vegas>Question Details

Deborahgilli…, Home Buyer in Staten Island, NY

How do I get a mortage with a 652 credit score and about 10,000 for a down payment?

Asked by Deborahgillick, Staten Island, NY Thu Jun 14, 2012

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Sia Howe’s answer
Hello Deborah,

Your credit score alone and the $10K is a great start!! However, only a lender can give you a firm yes or no. They will have to also consider your entire credit report, tax returns and current income vs debt.

I can recommend a few lenders that will work very hard to get you loan and I can help you find the home that you can afford and will love.

Have a great day!
0 votes Thank Flag Link Sat Jun 16, 2012
You need to speak this a loan officer and let them collect your financial documents and run your credit etc. From there they will have a solid idea of what you can get approved for or tell you what you need to do in order to get yourself in a better position to get approved in the future.

Do you have a loan officer you are working with? I was a loan officer for several years prior to get my real estate license. If you need a good referral please email me and I will reply back with the lender contact info.

Good luck with your home purchase either way!

Sincerely,
Angela Adams
REALTOR
The Adams Team at
Rothwell Gornt Companies
Angela@LVrealestateHELP.com
http://www.LVrealestateHELP.com
LinkedIn Profile: http://www.linkedin.com/pub/angela-adams/b/779/62b/
FaceBook Profile: https://www.facebook.com/pages/The-Adams-Team-at-Rothwell-Go…
Twitter Profile: https://twitter.com/LVPropertyForum
2 votes Thank Flag Link Thu Sep 12, 2013
This is very doable! Please email me at my email address below. I will reply with the lender contact info of the reputable loan officers we use. From there you can contact them and they will run your specific scenario and tell you all of your financing options. From there you can pick which loan officer is giving you the best deal and which loan officer you feel the most comfortable with. The loan officer you decide to go with will then provide you with a preapproval letter. At that point we will be ready to look at properties and start submitting offers. You will need this preapproval letter in hand to submit with any offers. A good listing agent will not consider any offers that are not accompanied by an approval letter. Please contact me directly to get the process started.

You can also fill out my Buyer's Form here to start receiving properties in the meantime:
http://lvrealestatehelp.weebly.com/buying-real-estate.html

I look forward to hearing from you!

Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com

CONNECT with me on LinkedIn: http://www.linkedin.com/pub/robert-adams/2a/971/a93/

LIKE me on FaceBook: https://www.facebook.com/pages/The-Adams-Team-at-Rothwell-Go…

FOLLOW me on Twitter: https://twitter.com/ShortSalePros
1 vote Thank Flag Link Mon Aug 26, 2013
Deborah-

You can most likely get an FHA loan or a VA loan if you were in the military with those numbers depending on the price range you are looking for a home. You might even be able to do a conventional loan for 3% or 5% down.

I am a lender in Las Vegas and would be happy to answer any questions you might have. Please feel free to call or email me anytime. Once we get your mortgage information squared away, I can put you in touch with a reputable Realtor.


Thanks and Good Luck,


Andy Gutman
(702) 575-3757 cell
andy_gutman@yahoo.com
http://www.andythemortgageexpert.com
0 votes Thank Flag Link Fri Sep 13, 2013
You need to talk to a lender. You may qualify for FHA the lender will need more information. I can put you in contact with one if you would like.
0 votes Thank Flag Link Thu Sep 12, 2013
Your interest rate will be very high with that low a score. Better to clean up your credit first with the $10,000 and qualify for a 3.5% down FHA with a better score.


David Cooper Helping Investors Get 10% ROI Since 1994
READ MORE http://www.lasvegaswinner.org
1-888-616-6226
0 votes Thank Flag Link Thu Sep 12, 2013
Well Deborah,
Every loan scenario is hand tailored to meet an individuals need, but you have already given me 2 of the 3 items I need to move forward with your loan. You can call me direct or click the link below and fill out your online application for free, and I would be more than happy give you all of your options. I look forward to hearing from you.

Check me out on the National Real Estate Post and get your clients an approval today!
http://thenationalrealestatepost.com/find-a-professional/mor…

Thank you for choosing City First Mortgage Services,

Nathan T. Kessler | Sr. Mortgage Loan Originator
City First Mortgage Services
8871 W Flamingo Rd Suite 202
Las Vegas, NV 89147
(C) 702.683.3126 | (F) 702.974.0848 | (O) 702-522-6743
nathan.kessler@city1st.com http://www.city1stlasvegas.com
Company NMLS # 3117 | Branch NMLS # 819501
Individual NMLS # 377217 NV #46175
0 votes Thank Flag Link Thu Sep 12, 2013
Buy a property that allows for financing and is below $200,000. More than likely you will use a FHA or VA loan. Call me, I can help.


Sincerely,


James Bellile
Broker/Salesperson
iProperties International
LasVegasValleyRealEstate.com
702-222-0815
0 votes Thank Flag Link Sun Aug 25, 2013
Deborah,

Call a lender and have them preapprove you. Every lender I know does this for free. I usually use Nathan Kessler at City 1st Mortgage. He does an excellent job and he has financing available all the way down to a 500 credit score! He can be reached at 702-683-3126.

Thank you,

Jeffrey Sklar
Broker/Owner/Realtor
Desert Valley Realty
10161 Park Run Drive #150
Las Vegas, NV 89145
702-408-6470 mobile
702-763-SELL (7355) office
888-203-2779 fax
Jeff@DesertValleyRealtyLV.com
Be sure to tune into 720AM every Saturday at 6pm to hear me host "The Real Estate Show!"
0 votes Thank Flag Link Sun Aug 25, 2013
I have a hard money lender with NO Credit requirements but you need 20% down


Percy Chevis
Real Estate Professional

Key Realty
9890 S Maryland Pkwy Ste 200
Las Vegas, NV 89183-7168
Office: (702) 378-6362
Fax: (702) 933-3603
E-mail: percychevis@gmail.com
0 votes Thank Flag Link Fri Aug 16, 2013
Yes you can get approved with a 652! You probably don't need to get your scores up anymore. There are Lenders that can do a 600 mid score home loan. They just aren't always easy to find and some try to over charge you on the rate and fee's. I have had a lot of my clients with 580-600 scores approved for a home loan with The Lenders Network, not bad rates either. If anyone can you get approved they can!
0 votes Thank Flag Link Fri Aug 16, 2013
Deborahgillick:

I am a local lender here in Las Vegas, NV... Besides the credit score and down payment, there are other factors that we need to consider in order to determine if you qualify for a mortgage. I would say you're good on the credit score since the minimum middle score required for most lenders is 620 (assuming you don't have any derogatory accounts, Foreclosure, short sold a property, or bankruptcy).

With the $10,000 down payment, it just depends on how much your purchase price is.

Give me a call so we can discuss your scenario and possible options then guide you to the right direction.

Eugene Prospero
All Western Mortgage
702.324.2377
0 votes Thank Flag Link Thu Jun 14, 2012
Hi Deborah,

The best advice that I can provide you with is to consult with a Mortgage Advisor who will take the time to understand your goals and objectives both with the property and your overall financial picture. Your advisor should request all necessary documentation such as bank statements, tax returns, W-2's, check stubs, and credit. The only way to provide sound advice is to have a thorough review completed. The question that you have posed does not contain enough information for someone to give you an accurate answer.
If you do not already have confidence in a Mortgage Advisor, I would be happy to assist you.

Good luck!
0 votes Thank Flag Link Thu Jun 14, 2012
Investment home or primary residence?
0 votes Thank Flag Link Thu Jun 14, 2012
I lived in NY 3/4 of my life so I can tell you housing is alot different here but lending is about the same. That credit scroe would not be an issue as long as the lender can verify a few other things. Give me a call or email and let me help because the lending part is only 10% of the battle. Once we get that situated we can work to find you the right home. Visit my website and read my client testimonials. http://www.VegasRealtorJoe.com Im sure if we got to talking we may even know a few of the same people that can vouch for my integrity because I know Staten Island is tight knit.

http://www.VegasRealtorJoe.com
0 votes Thank Flag Link Thu Jun 14, 2012
With you credit score you can qualify for either FHA or conventional loan. There are a lot of great lenders that can assist you. We work with JFK Financial and Robert Coomer. You can contact them directly at 702-375-1317 or coomerteam@gmail.com.

Feel free to contact us is you have any questions or need any assistance. Once you find out what you are approved for, it is best to be put on a professional search by a Realtor. Unfortunately sites like Trulia, Zillow, Hotpads, etc. are not in real time. You may be looking at homes that are no longer available. The Las Vegas market moves very quickly, it's good to say on top of it.

Have a great day! We would love the opportunity to work with you.

Giovanna Piccoli
The Piccoli Group
702-873-7400 ext.143
piccoligroup@yahoo.com
0 votes Thank Flag Link Thu Jun 14, 2012
With you credit score you can qualify for either FHA or conventional loan. There are a lot of great lenders that can assist you. We work with JFK Financial and Robert Coomer. You can contact them directly at 702-375-1317 or coomerteam@gmail.com.

Feel free to contact us is you have any questions or need any assistance. Once you find out what you are approved for, it is best to be put on a professional search by a Realtor. Unfortunately sites like Trulia, Zillow, Hotpads, etc. are not in real time. You may be looking at homes that are no longer available. The Las Vegas market moves very quickly, it's good to say on top of it.

Have a great day! We would love the opportunity to work with you.
The Piccoli Group
702-873-7400 ext.143
piccoligroup@yahoo.com
0 votes Thank Flag Link Thu Jun 14, 2012
To answer your question I would recommend you contact a Great lender that I have worked with for over 16 years. Contact me and I would be happy to send you her contact information.
Thank You
Suzie Marquardt
SuzieM@RealtyOneLV.com
0 votes Thank Flag Link Thu Jun 14, 2012
Hello,

To answer your first question: How long to find a renter? This varies greatly on how nice your property is and, most importantly, what your property is priced at towards the competition. If both these criteria are in order, generally about 30 days or less.

To answer your second question: Investor loan with that credit type are a 20% down payment. At 10K, you're capping out at a 50K purchase price.


Sincerely,



James Bellile
iProperties International
702-222-0815
http://www.SinCityRealEstate.com
0 votes Thank Flag Link Thu Jun 14, 2012
Good morning Dehorah,
I have a couple of lenders that have programs that will work for your situation. If you would like to discuss it with them please give me a call and I will get you started.

Mike Yarbrough
Simply Vegas
Real Estate Made Simple
3042 S. Durango Dr.
Las Vegas, NV 89117
Direct: 702-985-5566
0 votes Thank Flag Link Thu Jun 14, 2012
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