Nay, Home Buyer in North Charleston, SC

My FICO score is 584. and currently working on. Income 32k. I want to get prequalifed for a house under 85k in SC. Is there any help for me?

Asked by Nay, North Charleston, SC Thu Feb 9, 2012

Help the community by answering this question:


You need to get your credit score up to 620 for a state housing loan and 640 for a FHA loan.
1 vote Thank Flag Link Mon Feb 13, 2012
To give you a may be able to qualify. FHA guidelines allow borrowers to have credit scores lower than 620 and still qualify for financing. The difference is at what loan-to-value (LTV). FHA allows for a 96.5% LTV with a middle score of 580 and above....even though most lenders won't do a loan with that score and ratio. For scores lower, the LTV changes to 95% or 90% depending on the number. I do work with a few lenders who offer this. However, bear in mind that for scores lower than 600, the guidelines become more strict. Overall, from experience, most lenders are looking to make sure there are no late payments or new derrogatories within the last 12 months. Please feel free to contact me. Thanks.
1 vote Thank Flag Link Thu Feb 9, 2012
You are almost there!! I can email you some information to help you on your way.

Email me at
1 vote Thank Flag Link Thu Feb 9, 2012
Please give a call at 843-251-5405 and I will connect you with a local mortgage banker to see how we can help you!
Thank you for the opportunity to earn your business!
Jennifer Burke
Weichert, Realtors Palmetto Coast
1 vote Thank Flag Link Thu Feb 9, 2012
It seems that your scores in your range should work. Lenders like myself can go as low as 580 when it comes to credit scores. Of course, your other finances will need to be in place as well including your income, debt, assets, employment, expenses, etc. The best thing for you to do is to speak with a knowledgeable lender like myself to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!

Brian Nguyen
Sr. Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
0 votes Thank Flag Link Thu May 8, 2014
HI Mia!
Some lenders can work with lower scores but generally a 620 is the lowest. Do you need some suggestions for credit recovery programs? I can help with that if so!
0 votes Thank Flag Link Wed Mar 26, 2014
Hi Nay, I can assist you with your real estate needs. I know a loan person that might be able to help you. Please call me at 843-327-0059, I can get you set up and going.
0 votes Thank Flag Link Tue Sep 3, 2013
If you use the right lender you can get a home loan with a 580 credit score, I would recommend The Lenders Network, if any company can get you a loan they can. I have had clients with under a 600 score get approved and we closed within 30 days... Brilliant real estate minds with a ton of lending contacts, if you need credit repair the owner used to own the best credit repair company but now is partnered with a company they can refer you to and you can be at or above a 580 in just a few months.

Good Luck!
0 votes Thank Flag Link Mon Aug 5, 2013
Engage a local Licensed Mortgage Broker by clicking "Find a Pro" in the header of this website.
0 votes Thank Flag Link Tue Mar 12, 2013
The average individual credit score is 677. If that individual was to raise that score to 720 they would save an average of $420 per month. I would work on getting that score up higher because once you do become a homeowner your home insurance is also credit score driven. Take a look at which is a great source on how you can improve your score faster.
0 votes Thank Flag Link Sat May 19, 2012
Contact a local mortgage professional - this professional will determine your prequalification range.

Once you know that, connect with a Realtor to select homes to see that are within your price range.

Click the link to view a sampling of homes in the N Charleston area, priced under $85K.

Best Regards.

Maureen Cody
The Keys To Charleston LLC
0 votes Thank Flag Link Mon Apr 30, 2012
I can help!! Email me or give me a call sometime today. I have a few clients working on their score to build it up!!

Debbie Knowles, GRI
Keller Williams
0 votes Thank Flag Link Fri Apr 13, 2012
My credit score is 580 want to get an equity loan or a line of credit for approx 25,000 is there any help for me.. I own my home.... no mortage
0 votes Thank Flag Link Thu Apr 12, 2012
Go to your local non profit housing group for credit counseling. The counselor will go over your credit report with you. They will tell you what you are doing wrong and what you should be doing. Listen to them and when your score is 640+ you can think of buying.
0 votes Thank Flag Link Fri Feb 10, 2012
The best thing to do is to talk to a mortgage broker directly. They will be able to advise & guide you the most effeciently. I work in conjunction with someone who has had great success getting people approved when they were turned down elseware. If I can help, please let me know.
0 votes Thank Flag Link Thu Feb 9, 2012
There is always help out there for those who want to right the ship! It sounds like you are on your way, but I can help you acheive your goals and boost your score. What you need to know is what accounts to pay down, and to what ratio of credit limit to credit debt (proportion of balances to debt on revolving credit account can greatly boost or harm your score). There are several different programs that offer 100% financing as well with 640 and 660 middle scores required for approval. We also have 96.5% FHA financing available. Give me a call at my number below and we can get you on the fast track to raising your scores and owning a home here in SC.

Haynes Johnson
Sr. Associate
Land South of Charleston, Inc. -Real Estate Division
Peoples Home Equity, Inc. -Mortgage Lending Division
Phone: 843-864-8159
0 votes Thank Flag Link Thu Feb 9, 2012
That's great! There's a lot to choose from in this price range and you're almost to where you need to be as far as your credit score goes. You need to have a 620 to get pre-approved, but often times is you work one on one with a good lender, they can help you take the small steps to raise your score just a few more points. Also, the credit score you get online is not the score they use to pre-approve you, you have several credit scores and they take the average of the three. Give me a call or contact me on my website, I have a few great lenders that are well versed in your situation and I'm happy to help you find the perfect match for your needs!

Jen Pfeffer
Carolina One Real Estate
(843) 367-3309
0 votes Thank Flag Link Thu Feb 9, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer