What credit score does one need and what type of income for let's say $150,000 condo?

Evelyn R. Bermu...
Home Buyer
Chicago, IL

I am interested in a condo duplex in chicago, il

Answers (2)
Kevin
Other/Just Looking
Texas City, TX

Nike is right.... Many factors affect your ability to qualify... for more information, you can visit:
http://www.eaglenationwidemortgagetx.com/

Mon Jul 27 2009, 04:23
Nike (Nikki) Fa...
Mortgage Broker
or Lender

Beverly, Chicago, IL
FIRST ANSWER

The minimum score as at today is620 to get a loan. A lot of other factors are considered though, in the approval process.
If you don't want a generic answer, you may want to call a Loan Officer and get preapproved based on your specific profile.
Please find out a few things about the condo though - is it Fannie Mae or Freddie Mac or HUD approved? How many units are rented out? Is there a First Right of Refusal for the Condo Association?

These and other questions would affect your ability to buy whether you qualify or not.

Good luck and I hope you find the best resources available to you.

Nike ("Nikki")

Sat Jul 25 2009, 14:30

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 3,376
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback