Home Buying in Williamstown>Question Details

Brooklyn69ki…, Home Buyer in

We want to buy this house or a house that is below 300,000 with 4 bd an 2-3 bths an open floor plan

Asked by Brooklyn69kingbaze, Tue Jan 1, 2013

What happens if we want to buy a house @ 243,500 @ a 20% and we have a poor score but we have the 20% down payment will it be a problem to buy this houes

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Marsha Bowen-Washington’s answer
If your credit score is under 600, it can be quite challenging. FHA is usually the only way to go if your credit score is low. A good mortgage professional can analyze your credit and advise you of the requirements. If you need additional information, feel free to contact me.

Best regards,
0 votes Thank Flag Link Wed Jan 2, 2013
What is your credit score. There may be options

Kenneth Weidler Broker Associate
Prudential Fox and Roach Realtors
0 votes Thank Flag Link Tue Mar 5, 2013
Its great to see in this current economy a homebuyer that has ample funds for a down payment on a home. With poor credit, you may have more hoops and hurdles to jump through in order to get pre-approved or you can team up with a mortgage lender that will guide you on how to improve your credit so that you will be able to qualify for a loan at a later date.
I can put you in touch with a few reputable mortgage lenders to see about your options.

Laquita Baez
Licensed Realtor in NJ and GA
Weichert Realtors
908.277.1200 office
973.687.7095 cell
0 votes Thank Flag Link Wed Jan 2, 2013
Hello Brooklyn69kingbaze,
Thank you for your question.
It is great that you can give a 20% downpayment not many people can but you will still need to get the rest of the funds from a lender and go through their requirements.
I will be happy to assist you by putting you in contact with a representative from a strong company that review it and help you with the process.
Call or email me at your convenience. 609-313-8518 inesdelacruz@remax.net
Best Regards,
Ines De La Cruz, Realtor, ABR, CRS
RE/MAX Connection
To view all the homes in NJ visit inesdelacruz.com
0 votes Thank Flag Link Wed Jan 2, 2013
Hi. I can't see the house that you reference but I have helped many buyers with less-than-perfect credit. It is more difficult to buy with problem credit in our current banking climate but nit impossible. Check me out at http://www.activerain.com/voorheesbroker. If you like what you see, give me a call and I will do my best to help you get into a home this year.
Kimberly Thomas
Brown&Pope Realtors
Email: kim@kimcanhelp.com
0 votes Thank Flag Link Tue Jan 1, 2013
Hi, Even with a large down payment, you'll still be asking a bank to loan you money. Traditionally, you'll need a credit score of at least 620. A couple of banks are giving loans with a score of 580 or above, but they are very difficult to get.

Call me for two lenders that may be able to help.

0 votes Thank Flag Link Tue Jan 1, 2013
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