Home Buying in 92704>Question Details

Amattison81, Home Buyer in Cranberry Township, PA

I have a credit score of 680 with no credit debt. combined household income of $115,000. Will my credit hurt us from buying a home?

Asked by Amattison81, Cranberry Township, PA Tue Nov 5, 2013

we currently own a home now that we will be selling because we are relocating

Help the community by answering this question:


My company specializes in helping people with difficult loans like low credit scores, self employment etc. we have partnerships with some of the largest lenders in America that offer loans (refinance and new purchase) with credit scores as low as 580. I'd love to help you purchase a home!
2 votes Thank Flag Link Fri Nov 15, 2013

The best way to answer your question would be to contact any mortgage broker, local bank, or credit union to get pre-approved for a loan. They will ask you for some information and let you know how much you can be approved for. You will need this pre-approval in order to purchase a property.

If you need it, I would be happy to recommend a few lenders to you.

Feel free to contact me anytime at (310) 717-1321 or JamieTian@RodeoRE.com.


Jamie Tian
Rodeo Realty
(310) 717-1321
BRE #01920120
Web Reference: http://www.jamietian.com
1 vote Thank Flag Link Tue Nov 5, 2013
Your credit score is still acceptable! The lowest credit scores lenders like myself are able to do, is a score of 580. So us lenders would be able to give you a loan if your other finances are in place. It's also important to understand that you're ability to obtain a loan relies on other factors as well. These factors include income, expenses, assets, liabilities, debt, employment, down payment, as well as credit scores. Either way, I suggest you speak with a lender like myself who would be glad to speak with you to help you get the loan that you need. If you have any further questions or if you would like a loan, feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Thu Feb 13, 2014
We finance all types of loan programs at a simplified interest rate of 4%. Please contact us today for your requested loan amount.

Email #: brooks.fncss@live.com
Tel #: (724) 318-5092

{Only serious inquiries}
0 votes Thank Flag Link Tue Nov 12, 2013
hi amattison81

you should be fine .

Omar Khamisa
Mortgage Loan Manager
NMLS#: 369325
Cell: 510-648-5535
Web Reference: http://msjmortgage.com
0 votes Thank Flag Link Thu Nov 7, 2013
As some have stated below, there is time to improve the score IF that is determined to be the best course of action. Depending on where you're relocating, get in touch with a great loan agent who can help you with the new purchase. Use Trulia to help find that person if necessary. Once you're in contact, he/she can help you determine what's possible and what's at risk. Both are important in dictating what actions to take.

When we pull a credit report, we get a potential score improvement analyzer and it tells us what to expect in terms of points of improvement per bureau (the "what"). We can then investigate what it would take to realize that change; things such as paying down credit cards, removing an applicant from a tradeline, etc. (this is the "how"). And finally, we can then assess if it's worth the effort (the "why").

If you're looking in CA, I'm happy to help. If not, I'm sure there is someone else who can. By asking here, you're already on the right path.

Good luck,

Rob Spinosa
0 votes Thank Flag Link Wed Nov 6, 2013
Depending on your financing needs, 680 may be considered a good score.
FHA goes as low as 620 and 680 is more than acceptable.

Pricing will definitely improve for you with icrease to your credit score. This may be accomplished by paying down the outstanding balances on your credit cards. However, you do state, that you have no credit debt so an improvement may not be easily attanined as stated below.

Contact a mortgage professional in your area. Ask them to analyze your credit with you and go line by line to see if there is a way to improve the score.

Percentage of downpayment will help answer your above question with more accuracy.
0 votes Thank Flag Link Wed Nov 6, 2013
680 isn't going to hurt you and a rescore might help you.

J.R. Thrasher
0 votes Thank Flag Link Wed Nov 6, 2013
Allan is correct :)
That will cause a rapid Re-score to be higher typically within 7-10 days as long as all 3 bureaus are informed directly . Great info from Everyone. I hope all of our responses are helping you?
Let us know if you have an opportunity :)
0 votes Thank Flag Link Wed Nov 6, 2013
You should be fine based on your information, but showing or paying some purchases with fast payments are better than no recent transactions & can boost your score.
0 votes Thank Flag Link Wed Nov 6, 2013
Hello again .
If you have not already received an answer to your question that was helpful, i can let you know that I can do a loan amount up to $625,500 with a 660 fico with 25% down , so 75% Loan to Value.
Contact me with any questions please
0 votes Thank Flag Link Wed Nov 6, 2013
It will if you want a Jumbo loan. But other then that the only thing it will hurt you on is you will not get the best pricing.

Alex Greer
Loan Officer
NMLS #1056079

0 votes Thank Flag Link Tue Nov 5, 2013
A credit score of 680 is a very decent score. There are three credit reporting agencies and they report similar but different numbers. You might want to be aware of what all three report. Do not keep checking as each time you do it dips into your score by a minor amount. Don't make any large purchases like a car before you plan to buy your home. Of course, if you can get your score up by any amount it will get you a better interest rate. It is FANTASTIC that you have no credit debt especially if you use your card and pay it off every month. I can have you talk to someone on the phone to review your financial situation and tell you exactly what price point you can look in when you relocate. That in turn will give you more definitive facts about which area or city to chose to live and which type of housing you can go into.,for example single family, townhouse, condo.

Hopefully, my answer helped and we can get more detailed if you care to email me or phone.

I would love to keep in touch and help you and I have made the move myself from the east coast to the west coast!

June Batista
0 votes Thank Flag Link Tue Nov 5, 2013
It will not hurt you that much if you can put more than 15% down…Why do you have 680 (there might quick ways to fix it)
0 votes Thank Flag Link Tue Nov 5, 2013
Your credit will likely impact your interest rate, however, you should still be able to qualify for a loan with a score of 680. If you'd like, I can put you in touch with a lender who would be able to help you pre-qualify for a home loan. Also, please feel free to get in touch if you have any questions about real estate in the area.


Joe Van Fossen
Keller Williams Realty
(714) 584-7154
0 votes Thank Flag Link Tue Nov 5, 2013
The cost of money is based on risk. The lower the risk the lower the cost. The higher the risk, etc.
The average fico is 720 and would be considered good credit. 740 excellent.
680 will get you most types of financing available. The only difference may be the cost to you to borrow that money vs someone with a higher FICO.
Feel free to reach out to me if you need specifics for your particular situation.
Abraham Lee
Nakoma Mortgage and Realty Company
17 years experience
0 votes Thank Flag Link Tue Nov 5, 2013
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