Home Buying in Turlock>Question Details

Morehelp, Home Buyer in Turlock, CA

If you have 40,000 down for a down payment but low credit scores can you qualify for a home loan?

Asked by Morehelp, Turlock, CA Fri Jul 6, 2012

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I work with a lot of people who have less than perfect credit. I tell all my clients that need a pre approval to visit The Lenders Network, I have seen loan approvals from them even with scores under a 600. So if anyone can get you a loan they can.

Good luck to you!
1 vote Thank Flag Link Wed Jul 31, 2013
It depends on your score, and financial situation. Most banks don't care what you have to put down, you have to qualify. The only was to determine this is to contact a lender and go over it with them
0 votes Thank Flag Link Wed Jul 31, 2013
It only takes a few dozen questions to qualify you in minutes and go over your options. I specialize in Under 640 Fico Score Loans and offer credit repair at no cost to raise fico scores to qualify. I can raise fico scores within 3-4 days in most cases.

You may qualify FHA with fico scores between 500-579 with 10% down. If you have a minimum 580 fico score you may qualify from 3.5% down or as low as half percent down payment program. There is also closing costs involved too.

Here are some links to study and consider that I offer.

http://www.under640ficoscoreloans.com/Pages/USDARural.aspx

http://www.under640ficoscoreloans.com/Pages/Conventional.aspx

http://www.under640ficoscoreloans.com/Pages/FHA.aspx

http://www.under640ficoscoreloans.com/Pages/JumboLoan.aspx

http://www.under640ficoscoreloans.com/Pages/CHDAPLoans.aspx

http://www.under640ficoscoreloans.com/Pages/HalfPercentDown.aspx

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
9am till 7pm 7 days
http://youtu.be/MrygA2_8fAY

If my response was helpful, consider clicking thumbs up or BEST ANSWER!
0 votes Thank Flag Link Wed Jul 31, 2013
Hello Morehelp, It will depend on what your fico scores are and what price range your looking to buy. You would need 10% down to qualify FHA with fico scores between 500-579. You may qualify for FHA with a minimum 580 fico score. I specialize in Under 640 Fico Score Loans and offer credit repair at no cost to raise fico scores to qualify for programs, rates and terms.
Here are some links to study and consider.

http://www.under640ficoscoreloans.com/Pages/FHA.aspx

http://www.under640ficoscoreloans.com/Pages/HalfPercentDown.aspx

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
9am till 9pm 7 days
0 votes Thank Flag Link Mon Dec 31, 2012
Upon clearing everything up, a lender can run your credit again and look at your finances in order to determine what a bank would be willing to lend you. Saving a large down payment is a good start, it will just depend on what is reflected in your report. If you need the name of some local lenders, let me know.

Best of luck,
Adam Dalton, Century 21 M&M and Associates
adalton@c21mm.com
0 votes Thank Flag Link Fri Jul 6, 2012
Great Thank you when the time comes I may look you up
Flag Fri Jul 6, 2012
And still have 40k for a down payment.
0 votes Thank Flag Link Fri Jul 6, 2012
At the time that we are going to get prequalified which will be in a couple of months we will have no debt. We will be clearing everything up. So I am hoping that will raise our scores.
0 votes Thank Flag Link Fri Jul 6, 2012
Yes you sure can long as the house is in the 200,000.00 range or below. If I had 40,000 I will pay off my bad credit so that my credit scoore be hire. Then I could have the credit I need to buy that house.
0 votes Thank Flag Link Fri Jul 6, 2012
As mentioned below, its best to get Pre-qualified.

I live in the Central Valley and I can put you in touch with a lender.

Veronica Salinas
209-587-3124
0 votes Thank Flag Link Fri Jul 6, 2012
As Tim mentioned the best thing to do is meet with a lender/bank and have them Pre-Qualify you for a Home Loan. If you're sub 580’s it may be a bit of a challenge.

I hope this helps,

Rocky

Rocky G.H. Hawrysz
Prudential California Realty
(209) 444-6610 – Direct
Rocky@PruCalifornia.com
http://www.TeamHawrysz.com
License No. 01468373


“Without Question, Committed to Your Success!"
0 votes Thank Flag Link Fri Jul 6, 2012
Maybe, maybe not. There is no way anyone here can say without knowing much more. Just contact a lender and ask them, they can tell you after they ask you some questions. Just call some, no need to go see them to find out, it's called a Pre-Qualification.
0 votes Thank Flag Link Fri Jul 6, 2012
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