Home Buying in Fort Worth>Question Details

Kenmid, Home Buyer in Fort Worth, TX

I just check my credit scores, 629, 530, 630, will I be able to purchase a home 150,000?

Asked by Kenmid, Fort Worth, TX Mon May 2, 2011

Help the community by answering this question:


Much more is involved than credit scores to have any buyer qualified for a loan.

Best to contact a mortgage broker complete a loan application and continue the process from there.

After you receive lender approval contact my office HAPPY to assist with your search lender approval governs how I can represent you in home search.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Tue May 3, 2011
Your mid score is 629.
Most lenders want 640.

There may be a couple of quick fixes to get those 11 points.

Here is an article I wrote. http://texashomeloanblog.com/post/1867075/rapid-rescore-your…

Please give m a call if I can answer any questions about how you might be able to increase your score in a very short period of time.

Tom Burris
Mortgage Banker
(214) 763-4629 cell/text/nights/weekends
Lending all across the Great State of Texas!!
0 votes Thank Flag Link Tue May 3, 2011

Assuming your 3 FICO scores have not changed, yes you are eligible for an FHA, VA or USDA loan. I suggest contacting a reputable mortgage professional to get a full pre-approval so you can move forward.

As long as your employment history is acceptable, your debt to income ratio's are within reason and the home actually appraises for what you are willing to pay, then you'll be OK.

Good luck.

Scott Butcher
Mortgage Banker
Maker Capital Group, LLC
0 votes Thank Flag Link Mon May 2, 2011
HI Kenmid!

That mid score concerns me. Contact Lisa -Marie Thompson tomorrow at:
lmthomspn@VIPLend.com (214)758-7531

She will look in to your credit history and make the appropriate suggestions on what is needed
to bring those scores a bit. It may be a case of having some negative report challenged.

I have seen her work on files and her results are amazing.

When you are ready for a Realtor, feel free to contact me!

Best Rgards,

Lucy A. Puniwai
(214)783-6416 - Cell
(682-224-8050 - Fax

0 votes Thank Flag Link Mon May 2, 2011
Call me @ 817-564-3280 and I will put you in touch with a Mortgage Professional. There are other items that may benefit you as well with your mortgage such as the MCC tax credit and any bond programs the city of Fort Worth is offering if you qualify.
0 votes Thank Flag Link Mon May 2, 2011
First, you should check with the credit reporting agency about the 530. Since that one is 100 points below the others, they may have an error. Something in the 530s would basically place you in the same range as folks in bankruptcy or foreclosure. Getting a loan in that situation is tough. Otherwise, you should discuss your situation with a lender who can fully qualify you to determine your eligibility for a loan of that size. You can ask a real estate broker for a referral.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Mon May 2, 2011
There are other factors besides credit that will determine mortgage qualification, therefore visit with any qualified loan officer; after reviewing your financial information, a determination can be made.
0 votes Thank Flag Link Mon May 2, 2011
Hi, Your best bet is to speak to a reputable mortgage professional. The phone call won't cost you anything and you will get all of the answers you need. There are options available but only they will be able to tell you if qualify.

0 votes Thank Flag Link Mon May 2, 2011
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