Home Buying in Louisville>Question Details

Ashleipolk01, Real Estate Pro in 40206

Would I qualify for a FHA loan with a credit score of 647?

Asked by Ashleipolk01, 40206 Sat Feb 8, 2014

I'm interested in purchasing a condo.My credit score is 647.The condo I looked at was 97,000$.I have 7% to put down. Would I qualify for a FHA loan?

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Answers

14
Is the condo FHA approved? We lend down to a 580 on FHA loans. Let's discuss your loan scenario in more detail. Contact me at 800 315 8803 and we can look up whether the condo is FHA or Fannie approved. My name is Bart and I have been in the mortgage business since 1987. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you.



Bart Gabe - Lending Nationwide Since 1987

http://www.bartprequalifies.com

bart@bartprequalifies.com

800 315 8803

NMLS 20743
0 votes Thank Flag Link Wed Feb 12, 2014
647 does qualify for a FHA loan. How soon are you needing to close? Give me a call and I can help you negotiate your closing and help you find someone that will get your loan closed quickly. 502-424-2722. I answer texts also.
0 votes Thank Flag Link Wed Feb 12, 2014
With just the information you provided, the answer is yes; though there are many more questions to review in order to make an accurate assessment. Should you use FHA, Conventional, etc... ? The answer to that question is maybe.

Our advice is to:
1. have a 10 minute phone call to discuss the basics of your situation and then
2.have a buyer consultation

Matching your qualifications now with the short term and long term goals of your needs are cricial to ensuring that your buying experience is smooth and hassle free. Have you heard stories of 'the lender keeps asking for more and more things'? The key to eliminating most of this is a detailed pre-approval and reviewing what and when to expect things to happen during your contract-to-close period.
We would be happy to speak with you. Our best contact number is 502-371-5005

Here's a link to some past client video testimonials to get an understanding of who we are:

http://nickellis.benchmark.us/testimonials/
0 votes Thank Flag Link Tue Feb 11, 2014
Yes, you should be fine as long as you can show steady employment.

When you want to buy a home the best place to start is to hire an Exclusive Buyer Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. Visit http://www.naeba.org for a referral to an Exclusive Buyer's Agent in your area.

I've written a best selling book called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home and get a mortgage without getting ripped off. Follow the link below.

Best of luck!

Alysse Musgrave
214-734-3863
Alysse@HelpUBuyAmerica.com
http://www.helpubuyamerica.com
0 votes Thank Flag Link Sun Feb 9, 2014
Yes, based on the little information you supplied you would qualify. You should contact a local lender (virtually all lenders handle FHA loans) and speak with them for the specifics. If you're unsure who to speak with I'd suggest finding yourself an experienced buyer Broker who specializes in working with first time buyers like yourself. I've attached a link below on what to look for. After reading it I'd suggest clicking on the Find an Agent tab in the green bar at the top of every Trulia page and then making some calls and interview a few till you find one you like. They can tell you who they recommend locally for a mortgages.
0 votes Thank Flag Link Sun Feb 9, 2014
Yes sound like you would. The condo you are interested in has to be FHA approved. First step would be to contact a lender in your area.
0 votes Thank Flag Link Sun Feb 9, 2014
I believe you can, contact me to get started.

Lisa Ratchford
Weichert Realtors-ABG Properties
502-558-7140
lisa@abgrealtors.com
0 votes Thank Flag Link Sat Feb 8, 2014
Yes you would !!! Contact me to get that done for you ... 502 224 7917
0 votes Thank Flag Link Sat Feb 8, 2014
Yes you would !!! Contact me to get that done for you ... 502 224 7917
0 votes Thank Flag Link Sat Feb 8, 2014
Call me. Ryan Bratcher, Weichert Realtors 502-221-1177. I'm the listing agent for the condo.
0 votes Thank Flag Link Sat Feb 8, 2014
I work with a great loan office who can help you with that. Please contact me and I can help you get the information you need to proceed.
Julie Gamble
502-645-3293
juliegamble@att.net
Licensed realtor in Kentucky and Indiana
0 votes Thank Flag Link Sat Feb 8, 2014
Minimum score is 620 for FHA and 3.5% minimum down. The condo needs to be FHA approved. I know some excellent lenders here in KY. Call me 502-235-1431. Kat
0 votes Thank Flag Link Sat Feb 8, 2014
Your credit score is fine. Is the condominuim complex FHA approved?
0 votes Thank Flag Link Sat Feb 8, 2014
Your credit score qualifies, you have enough down payment and there are other qualifying factors. It only takes a 5 minute phone call to get you pre-approved. Give me a call 502-639-9617.
0 votes Thank Flag Link Sat Feb 8, 2014
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