Home Buying in 19475>Question Details

Gerald Martin, Other/Just Looking in 19475

credit score of 613 what are my odds of being approved for a home loan9 first time buyer)

Asked by Gerald Martin, 19475 Sat Aug 6, 2011

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Gerald, don't be discouraged. While securing a mortgage with a 613 credit score could be very challenging, you may not be very far from raising that score with alittle positive effort- and it may not take as long as you might think. Your credit score won't be the only thing that is looked at. Such things as your debt to income ratio will be very important as well. But, I always tell my clients, information is power-KNOWING your situation and facing it head on is the first step to your dream of home ownership!
0 votes Thank Flag Link Mon Sep 5, 2011

You'll have to get your score up a little bit to atl east 620 or 640, which shouldn't be hard if you are motivated to do so. Contact your lender, or I'd be happy to help. The other factors that will be taken into consideration for your approval are income, debts, money saved, etc.

Always feel free to call or e-mail.

Chad Bahnsen
Mortgage Network Inc.
Landsdowne, PA 19050
Cell 610-457-7262
0 votes Thank Flag Link Tue Aug 9, 2011
Hello Gerald,

You need to contact a lender that will give you the exact answer that you are looking for.
Prudential Fox and Roach works with one of the largest Realtor-affiliated mortgage companies in the United States.
If you are interest, please let me know and I can get you in contact with them.
Web Reference: http://www.agentnadia.com
0 votes Thank Flag Link Sat Aug 6, 2011

I'm pretty sure you can find some sort of loan, but it's not likely to have terms you'd want.

Check with a lender for more details and for a definitive answer.
0 votes Thank Flag Link Sat Aug 6, 2011
Don Tepper, Real Estate Pro in Burke, VA
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