Home Buying in Horizon City>Question Details

Az, Home Buyer in Horizon City, TX

What credit score is needed to get approved for mortgage on vista Serena homes? My husband make $25000 a yr. are there programs to help us purchase ?

Asked by Az, Horizon City, TX Thu Jun 14, 2012

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You probably need to be more concerned with your income. For an FHA you really need a 620-640 in most cases but your debt ratio needs to be in line. I would contact a lender to get pre-qualified and what they say you can afford. Then you have to see what you are comfortable with. Just because a bank says you can afford X doesn't mean you want to buy that much house. It's not fun to be house poor.

Best of luck to you.

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Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | http://www.AustinListed.com
Web Reference: http://www.AustinListed.com
0 votes Thank Flag Link Fri Jun 15, 2012
What I meant about programs is that with an income of$25000/yr is it even possible to purchase a home? Is their a way to maybe get low monthly affordable payments?
0 votes Thank Flag Link Thu Jun 14, 2012
600 - 640 FICO Score is the benchmark.
There are a few programs that take lesser scores but they are hard to get.

Programs to help you purchase? What do you mean?
Are you looking for down payment assistance?
Are you looking for a loan tat takes low scores?

Please elaborate.



Tom Burris
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0 votes Thank Flag Link Thu Jun 14, 2012
Hello Az ; Congratulations on your first step in home ownership. Getting Pre- qualified is the first and most important step in the home buying process. Contact me at your earliest convenience and I will review your financing options. I look forward to speaking with you. Warm regards, Jorge. 915-491-5522
0 votes Thank Flag Link Thu Jun 14, 2012
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