Home Buying in 06708>Question Details

Margia, Other/Just Looking in 06708

do i i need a perfect credit to buy a house?? is better to be married or single to buy a house?for how long i need to be working in my job?

Asked by Margia, 06708 Wed Aug 17, 2011

Help the community by answering this question:


You do not need perfect credit to buy a house. It does not matter if you are married or single as long as you can afford the mortgage payment, property taxes, insurance, and any other debts you may have. As far as work history, lenders generally like to see at least 2 years in the same industry with stable income that can be documented via paystubs, W2's, tax returns. You do not necessarily need to be working for the same company for 2 years as long as the income is a base salary and not commissions, bonuses or tip income.

Please feel free to contact me if you would like me to pre-qualify you for a home purchase. (no cost, no obligation)

Chris Goodrich
Executive Mortgage Banker
Northpoint Mortgage
ph: 203-241-3994
0 votes Thank Flag Link Fri Sep 9, 2011
A good mortgage officer will answer all your questions, most questions with out actually pulling you, or your spouses credit report. Real estate agents are not loan experts, which is why a mortgage officer is critical. Good luck!
0 votes Thank Flag Link Thu Sep 1, 2011
No, and No. If you need help finding a home in CT, feel free to give me a call and I can point you in the right direction. Patrick
0 votes Thank Flag Link Thu Aug 18, 2011
You do not need perfect credit to buy a house. A 640 (and paying your bills on time) will get you the best rate. You can afford more a house if their are 2 incomes to support it. The whole picture can be discussed with a mortgage officer.
0 votes Thank Flag Link Thu Aug 18, 2011
Hi Margia
You do not have to be married to buy a house. The best way to begin would be to speak with a mortgage lender and ask them to prequalify you for a loan. They can tell you within minutes of checking your work history, income, assets and credit score if you are in a position to buy a home yet. If it turns out that you are not they will be happy to tell you what you need to do to get ready. Typically they check your income for the past 2 years, you will need money for a down payment and closing costs, and have a low debt ratio
Debts would include items like credit cards, student loans, car payments.Most lenders look for a credit score above 640.
0 votes Thank Flag Link Thu Aug 18, 2011
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