Home Buying in East Hartford>Question Details

Dajour1son, Home Buyer in East Hartford, CT

I am ready to look into buying a home my credit score is 640, is that enough to qualify for a loan and a program to help with buying a home ?

Asked by Dajour1son, East Hartford, CT Mon Mar 10, 2014

Help the community by answering this question:


Yes it is. But we also need to determine what brought your credit score down to a 640,
You need to sit down with a loan officer. Either use someone who your friends of had a good experience with or meet with someone at the local bank.

I can also help you, my name is Jill Carini I'm a loan officer with a local bank and my number is 860–4601374. Best of luck to you
1 vote Thank Flag Link Mon Mar 10, 2014
Thank you !
Flag Mon Mar 10, 2014
Generally most lenders prefer a 640 credit therefore you should be fine, however there are other factors besides credit that determine mortgage qualification, so you really should visit with any licensed loan officer; be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously.
1 vote Thank Flag Link Mon Mar 10, 2014
All the answers you received thus far are correct. However, my reading of your question goes beyond the
mere number of your credit score.The most important function of an agent, in my opinion ,is helping the client understand the complete home buying process and guiding them through the process......If your still looking for a lender to qualify you for a mortgage and to help you with the buying process give me a call at 914-356-6468 ( mobile ) I have just the right program. A non-profit lender who provides you with advocacy, education and the lowest interest rates in the market.
0 votes Thank Flag Link Sat Mar 28, 2015
Hi Mary, thank you for the question. Congratulations and taking the first step towards home ownership! There are a few factors that come into play when determining qualification for a mortgage (credit score being one of them). The short answer to your questions is “yes”, with a 640 credit score most lenders will be happy to work with you. The other thing that will factor in however, are the items on your credit report. Do you have any open collection accounts, have you had any payments 30 or more days late over the last year, have you had any repossession, or foreclosures, etc… though lenders use credit scores as a gauge, your credit history will also come into play as a lender determines your credit qualification. Because each person has a unique credit history, the next step would be to set up a one on one meeting with you and a reputable lender, to go through you credit history and issue a formal loan pre-approval. I hope this helps, wishing you luck on your home search!
0 votes Thank Flag Link Sun Mar 15, 2015
Yes it is! I have excellent lenders to refer you to who can help you through the financing questions.
0 votes Thank Flag Link Wed Mar 11, 2015
Congratulations on taking the first step in getting your score to 640. The next step is to speak to a real estate agent. A Realtor will help you get all the resources you need such as a good mortgage lender that will have the right programs for your specific situation.

If you need help getting the right home buying team working for you, please contact me stacystephens@kw.com.

Thanks and all the best!
0 votes Thank Flag Link Mon Aug 18, 2014
If you are a member of a union then Wells Fargo has a Union Plus program that will give you a $500 gift card at closing plus offer you 6 months of payment protection in case of lack of work or a strike!
0 votes Thank Flag Link Thu Aug 14, 2014
Your right at the line with that score. You can check with our in-house mortgage broker Ed Fournier with Connecticut Home Mortgage for pre-approval at 860-982-6903 or in my office at 860-652-4564. If you would like me to set a search for you in East Hartford, please call me at 860-922-0492 or email me at wendycurry@bhhsne.com

I will be hosting an Open House at my listing at 132 Holland Lane, East Hartford on Sunday August 17 from 12:00-2:00pm if you would like to meet me in person. I'm sure I can represent your interests and assist you in your search!
0 votes Thank Flag Link Thu Aug 14, 2014
Like the other agents have said, there are many programs that are available. I would be happy to recommend a local mortgage broker. I also specialize in first time home buyers, so if you have any questions about purchasing your first home, I can be reached at 860-368-8383.

Good luck!
Jessica Tracy
Keller Williams Realty
0 votes Thank Flag Link Fri Mar 14, 2014
There are different programs and lenders that have various mortgage options based not only on Credit Scores but also other criteria. A realtor can help you with identifying Lenders that might best address your financial situation and your real estate goals.
0 votes Thank Flag Link Tue Mar 11, 2014
In most cases that should be sufficient. We are actually hosting a first time homebuyer seminar at 6pm tomorrow evening at the east hartford cultural center on chapman st if you'd like to attend.
0 votes Thank Flag Link Mon Mar 10, 2014
Absolutely! I would be glad to help you with the process...I have been selling real estate in the Windsor - East Hartford- Manchester area for over 20 years...feel free to give me a call at 860-688-1400 and we can talk about your goals and how we can make them happen!
0 votes Thank Flag Link Mon Mar 10, 2014
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