Home Buying in Ohio>Question Details

Yalondae, Home Buyer in Dayton, OH

608 credit score, currently have a mortgage, but need to het out fast!

Asked by Yalondae, Dayton, OH Tue Oct 30, 2012

I currently am paying a mortgage on my home. The home is too small and there are a lot of other problems with it (i.e., mold). We need to get out. The problem is that I fell behind on my payments, this lowered my credit score to a 608. My income is $50,000 and my husband is not employed. Can I be approved for another mortgage so that I can move and allow my current home to go for a short sale? My husband has a credit score of about 450 (he has never really had a credit history). I bought my home before we were married. Will he be able to get a loan and use my salary? What is the best thing to do so that we can move fast?

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FHA really isn't credit score driven, it's the Banks and Lenders that set those score requirements. There are a few lenders that go down to 580 with FHA, I personally have closed on several homes with clients around and under 600. I recommend all my clients that have credit issues to check with The Lenders Network, check them out. If anyone can get you approved they can!
0 votes Thank Flag Link Tue Jul 16, 2013
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