Home Buying in 48910>Question Details

Janetm0415, Home Buyer in Lansing, MI

Like the last question I too have a credit score of 656, want to borrow $50k with 20% down. will I have an issue?

Asked by Janetm0415, Lansing, MI Fri Aug 24, 2012

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Answers

6
Almost all lenders will be able to give the loan based on credit score. There is other criteria that the lenders will look at for a complete evaluation.
Good Luck!
0 votes Thank Flag Link Thu Mar 27, 2014
Many of the new rules have change this year. You go as low as 580 in some cases
0 votes Thank Flag Link Thu Mar 27, 2014
Yes you can get approved with a 656! You probably don't need to get your scores up anymore. There are Lenders that can do a 600 mid score home loan. They just aren't always easy to find and some try to over charge you on the rate and fee's. I have had a lot of my clients with 640 scores approved for a home loan with The Lenders Network, not bad rates either. If anyone can you get approved they can!
0 votes Thank Flag Link Fri Aug 16, 2013
You should be ok but if you do try a credit union as sometimes they will work with you when the others will not.
0 votes Thank Flag Link Mon Nov 19, 2012
Your financial person can help you with that answer also.
0 votes Thank Flag Link Sat Aug 25, 2012
Janet,

As long as you qualify income to debt ratio your credit score shouldn't be a problem.

Good Luck,

Karen Paytas, GRI, CMS
Realtor
Real Living Kee Realty
586-709-8465
kpaytas@mirealsource.com
0 votes Thank Flag Link Fri Aug 24, 2012
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