Home Buying in West Hartford>Question Details

Mr. B, Home Buyer in West Hartford, CT

I have a credit score of 616 and my girlfriends score is 780, would anyone approve us together for a mortgage with my credit score being what it is?

Asked by Mr. B, West Hartford, CT Thu Feb 2, 2012

Combined we make $85,000.00/year and have a combined debt of $1,321.00 a month.

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4
A credit score is really 3 numbers (from 3 different credit agencies) and if you could improve your overall score by 50-70 points, a much wider range of financing options would be open to you. Sometimes there are errors in your credit record which depress your score, plus the percentage of your available credit that you are using can make a difference.

You will benefit tremendously from finding a mortgage officer who is a Certified Mortgage Professional (a very difficult designation to earn) who can review your credit record and help you understand your options. Some mortgage professionals have relationships with real credit repair companies which will help you out for little to no cost. Feel free to contact me if you are interested in specific excellent mortgage professionals in central CT.

With your income/debt picture as you have outlined it, I hope you have been saving 10% of your income each month.... this habit, which you can start anytime, will open many doors for you and your girlfriend over the coming months!

Good luck and please contact me if you want more specific guidance. Your inquiry will be kept confidential and you may be pleasantly surprised with your options!
0 votes Thank Flag Link Sat Mar 31, 2012
Great possibility. We have a mortgage officer that will review
your income, debts, etc. ..may help you rise your credit score
or tell you how you can both own a home with what
your credit score is now.

Call me 860-643-9505 home now...later office 860-647-8000.
no obligation what so ever.

Anne
Anne Miller Real Estate
0 votes Thank Flag Link Sat Mar 31, 2012
Go to your local non profit housing group for credit counseling. The counselor will go over your credit report with you. They will tell you what you are doing wrong and what you should be doing. Listen to them and when your score is 640+ you can think of buying.
0 votes Thank Flag Link Thu Feb 2, 2012
There are other factors besides credit that determine mortgage qualification, therefore visit with any licensed loan officer; after reviewing your overall financials, a determination can be made. 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.
0 votes Thank Flag Link Thu Feb 2, 2012
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