Home Buying in San Antonio>Question Details

Sharon Rodri…, Real Estate Pro in San Antonio, TX

What is the minimum credit score requirement for KB or similar homebuilders?

Asked by Sharon Rodriguez, San Antonio, TX Wed Jan 23, 2013

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Thekbhomedan’s answer
KB Homes is having a lot of problems in Florida. Are they having the same issues in Texas? Take a look at some of the pictures and videos are problems these homeowners are experiencing...http://TheKBHome.com
0 votes Thank Flag Link Tue Apr 30, 2013
Hi Sharon,

Do you need a Realtor to help you negotiate with the builder and look out for your best interest? Remember; the sales people at whichever builder you choose will be representing the builder, not you. It doesn't cost you anything and will be beneficial to you.

I'm a ful time Realtor and you can call, email or text me anytime!

Tabitha King
Web Reference: http://www.kingrealtors.com
0 votes Thank Flag Link Thu Jan 24, 2013
Thank you all for your responses. Not only were they informative to me, but I'm sure others out there had the same question. Choose the lender, then the builder...decisions....
0 votes Thank Flag Link Wed Jan 23, 2013
Let me represent you and get for you the MOST discounts and concessions from KB or ANY builder, I know how.
Jose L. Novelo
0 votes Thank Flag Link Wed Jan 23, 2013
Credit score doesn't matter to the builder... only the lender.

We have hard money lenders that don't care what your score is at all. But the interest rates and fees are a bit crazy.

For VA Texas Vet - 580
FHA with 5% down and 2 month reserves - 580
Regular FHA and VA - 620
Conventional -620
USDA - 620

Start here: http://www.DHIMortgage.com/Kasey-Hampton - She is by far the most aggressive lender I have ever seen, and also has the lowest rates I've seen in 15 years. You can thank me later :)

If your scores are lower than that... I have an AMAZING and CHEAP credit clean company that has actually performed very well for me.. Their work is first rate.

Jason C Campbell
Platinum Top 50 Finalist
Option One Real Estate
0 votes Thank Flag Link Wed Jan 23, 2013
Hi Sharon,

While it's true that many Realtors work with good loan officers that they can refer you to, getting pre-approved for a loan is only one element of the process.

When Realtors say "my loan officer is the best", what they are really saying is that the loan officer is a good match for their personality, and just like dating, they may or may not be a good match for yours.

I work with several lenders, so I can help match not just the financial needs of a buyer to a good loan officer, but also match personalities that I believe will work well together.

You’re going to be interacting a lot with the loan officer, so the process is going to go much more smoothly if you get to work with someone that you like.

Feel free to contact me without any obligation if you’d like to visit about it.

Leah McNamara BPOR CRS GRI
Best Practices Realty
Call or Text: (210) 379-2799
email: Leah@BPR.co
Web: http://www.BPR.co
0 votes Thank Flag Link Wed Jan 23, 2013
It's not the builder who determines this but your lender. Sometimes the builder has a preferred lender, but you are free to use any lender you choose.

I can recommend one if you like. Generally i would say 620-650 is the minimum score, but it can depend on many factors like how much you make, how much debt you have, and some other factors.

Let me know if you need a recommendation for a great lender who can talk to you first before you ever talk to the builder.
0 votes Thank Flag Link Wed Jan 23, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
If you are looking to get pre-qualified and also to compare closing cost/rate with a mortgage broker, we can help! 210.535.1739 OR 210.399.3838
We have lender who can qualify you with as low as 600 credit score for FHA financing which requires minimum of 3.5% down payment. We work with new builders including KB.
Laila Abdulla
Keystone Mortgage
0 votes Thank Flag Link Wed Jan 23, 2013
Ron is correct. You are looking for a lender. There are some lenders on this forum who claim they can work with a 580, some a 620, others say nothing below a 640. Please understand, however, credit score is only one of many variable lenders consider. I'd be happy to get you started.

Chad Bradford
0 votes Thank Flag Link Wed Jan 23, 2013
Ron is Correct. The builder is a separate entity, although some builders such as DR Horton have sister companies that are financial institutions. The average required score these days is 620. It is always best to get 'pre-qualified' by an independent company. This way you know they do not have a direct interest in the profit of the direct purchase of your home.

I can highly suggest someone so you know what price range you should stay below. Then you have what you need for a Realtor to negotiate the best price for you.

Any further questions???

Gregory Touchstone
Keller WIlliams Realty
0 votes Thank Flag Link Wed Jan 23, 2013
HOMEBUILDER do not determine your LOAN, nor do they work with your Credit Score:
Their Lender may, but the Builder is separate.

You do not have to use their Lender; in fact, you should compare.
0 votes Thank Flag Link Wed Jan 23, 2013
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