Home Buying in 47909>Question Details

Caitlin Mich…, Home Buyer in Lafayette, IN

Is it difficult/impossible to get a home-loan with a 520 credit score? with the significant other having no credit..?

Asked by Caitlin Michel, Lafayette, IN Sat Feb 2, 2013

still trying to find our 3bedroom out here in the 47909 area. seeing as how everything has gone, there is close to no chance of getting a home without a home-loan. or "pre-approval"

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Answers

3
Ted Esquibel’s answer
We offer a no document loan in Indiana for Owner Occupiers, but we require 35% down based on the purchase price. If you have a down payment that's what we require, as the financing is non credit score based. This loan is also open to distressed properties and fixer uppers. The house must appraise for the purchase price on the contract and that's the only underwriting requirement. Please let me know if you'd like more information.

Thanks,

Ted
512-334-1481
0 votes Thank Flag Link Mon Feb 11, 2013
Caitlin, I have a lender that offers a loan program for people with no credit at all. So if he has no credit established you could actually get into a new 3 bedroom home for around $700 a month that my company offers. Feel free to email me me at ryanw@yourarborhome.com Thanks, Ryan
0 votes Thank Flag Link Wed Feb 6, 2013
Hi Caitlin,
It is difficult but not impossible to get a home loan with a lower credit score. Different lenders have different requirements and it seems like those requirements change daily sometimes. I would recommend you talk with a mortgage broker as they sometimes have access to more than 1 type of loan. Try Ann Satterfield at Tippecanoe Mortgage at 765-448-3200 or Carrie Johnston at Approved Mortgage 765-543-1823. Good luck

Carlos Bonilla
Prudential Indiana Realty
765-543-5726
0 votes Thank Flag Link Sat Feb 2, 2013
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