Home Buying in 07305>Question Details

Olumoroti2001, Home Buyer in Newark, NJ

hi, can i get a home to buy with a credit of 520 but a good job to pay my mortgage. Thanks

Asked by Olumoroti2001, Newark, NJ Tue Apr 9, 2013

Help the community by answering this question:


Hi - You haven't indicated whether you have enough to make a substantial down payment. That would come into play also. The low credit score is also an obstacle. Probably your best track would be to continue at your good job, pay down your creditors on time, and save for a larger down payment.

If you would like, I can refer you to mortgage brokers who may be able to give you additional options you could pursue.

Please let me know if I can help you further.
0 votes Thank Flag Link Wed Apr 10, 2013
Thank you. Would you like me to send you some mortgage brokers names?
Flag Wed Apr 10, 2013
hi, really love your response to my question. i will appreciate if you can be of help
Flag Wed Apr 10, 2013
Assert yourself, "Nothing is impossible"
0 votes Thank Flag Link Thu Jul 18, 2013
There is about ZERO chance you can get a mortgage with that credit score.

In fact, you are the type of consumer who should rent, and work on their credit score. Once your credit score improves, then you should try this again.

Do yourself and the rest of us a favor, and continue renting.
0 votes Thank Flag Link Fri May 24, 2013
Hi, My clients have had a lot of success increasing their credit score with NJ Lenders & with Jersey Mortgage. You may want to give then a call!
0 votes Thank Flag Link Sat Apr 27, 2013
Credit is important. It would be good idea to call a Mortgage Consultant, and go over your options. Give me a call, and we can discuss ways to help you get into a home.

Jose Martinez
Sr. Mortgage Consultant
nmls 307342
0 votes Thank Flag Link Sun Apr 14, 2013
Hi - unfortunately 520 is too low in the current lending climate. Your best bet is to contact a mortgage professional (like me) to check your credit history to see why it's a 520 and start working on building UP your credit/FICO score. Also need to discuss income, job position, how long at job, etc... This way you can position yourself to buy in the near future.


Warm Regards,

Susan Paerels
Sr. Loan Originator
Mortgage Associates
36-42 Newark St. Suite 201
The Clam Broth Building
Hoboken, NJ 07030
NMLS: 340466
NMLS: 178928

The Hassle Free Mortgage!
0 votes Thank Flag Link Fri Apr 12, 2013
520 is really not going to cut it, regardless of your job. You really need to work on improving your credit score before shopping for a home and a mortgage.
0 votes Thank Flag Link Wed Apr 10, 2013
You would need to contact a mortgage broker to discuss your options with them. They would be able to run your credit and see if you qualify for a mortgage. There are a lot of mortgage programs out there that may be able to help you out.
0 votes Thank Flag Link Wed Apr 10, 2013
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