Evelyn R. Be…, Home Buyer in Chicago, IL

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

Asked by Evelyn R. Bermudez, Chicago, IL Thu Jul 23, 2009

I am interested in a condo duplex in chicago, il

Help the community by answering this question:


Nike is right.... Many factors affect your ability to qualify... for more information, you can visit:
0 votes Thank Flag Link Mon Jul 27, 2009
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")
0 votes Thank Flag Link Sat Jul 25, 2009
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