Yes, your score is plenty high enough to qualify for a mortgage.But there is more to it than just credit score.
I suggest you call an experienced lender and discuss your circumstances in private rather than disclose personal information here.
If you have not done so, or would like another opinion regarding loan programs or rate quotes give me a call.
First Centennial Mortgage
Once you are preapproved, the next step is to find a buyer's agent to work with you. Please keep me in mind - I am famliar with Hyde Park and neighboring areas.
Happy House Hunting!
Each loan program has its own credit score requirements. FHA for example allows lower scores. Jumbo programs can sometimes require 740 or higher. So, it depends not only on your score but all of the other variables. Linda's answer below is spot on. You need to talk to a lender to have them fully vet the deal you are considering. I actually will not even discuss the merits of the deal without first fully understanding income, employment, assets and property type as well as credit. While sometimes viewed as a bit Draconian in nature, this approach ensures that buyers have the proper expections and that their real estate agents know exactly what to look for when the begin the property search. In this crazy market, it is especially important to go through this step.
It sounds like you have an excellent credit score and high credit score is more important now more than ever! In order to get a home loan or any line of credit at the best terms the higher your credit score the better. As others have said you should speak with a lender to see what you can reasonably borrow based on your income.
Once you have an idea of what size loan you qualify for then you need to find a Realtor. Find a Realtor that you feel comfortable working with, knows the areas that you want to look, is qualified & experienced and is willing to help guide you through the whole process of helping you buy your next home.
If your credit score is less than it could be then it is a good idea to do everything possible to raise it. Make payments on time, use as little of your credit as possible and pay down your outstanding balances. Also check your credit report to make sure that it is error free - if there are errors (very likely!) then have them removed.
Contact me if I can be of any further assistance. Good luck on your home search!
Frank J. Schneider