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

Help the community by answering this question:


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
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
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
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 G.H. Hawrysz
Prudential California Realty
(209) 444-6610 – Direct
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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