Home Buying in Lancaster>Question Details

Misty` Farri…, Renter in Hanover, PA

What is the lowest credit score that is allowed for properties. Around about average.

Asked by Misty` Farrior, Hanover, PA Sat Aug 31, 2013

Help the community by answering this question:

Answers

3
Nathan Jones’ answer
It depends on what type of loan your are trying get and who your lender is. They also look at your overall financial situation not just your credit score. For an FHA loan you will typically need to be in the high 500's. For other conventional loans you will need to be in the 600's. Sorry, I know that is a broad range. Your credit score is just one of the items your lender will look at. The more cash you have on hand the lower your credit score can be. The less debt you have to lower your credit score can be. There are a lot of variables.
1 vote Thank Flag Link Sat Aug 31, 2013
Thanks, I guess I'll have to see how it goes. I really like the CV School District but a agent said that this is a hard area to get into.
Flag Sat Aug 31, 2013
That is a detailed answer feel free to contact me at your earliest convenience and I will do my best to answer it.

Regards
Eric Miller
717-575-6147
0 votes Thank Flag Link Wed Oct 9, 2013
Hello. We can qualify you for a loan with a credit score as low as 580 for an FHA loan with 3.5% down. A conventional loan would require a score of a little over 620, as would a USDA loan. We also offer credit repair services and would be able to help someone get their score higher if need be.
0 votes Thank Flag Link Tue Sep 24, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer