Home Buying in Staten Island>Question Details

Deborahgilli…, Home Buyer in Staten Island, NY

how can I secure a mortage with a 652 credit score and about 10,000 for a down payment in Staten Island new york?

Asked by Deborahgillick, Staten Island, NY Thu Jun 14, 2012

Help the community by answering this question:


With interest rates about to go higher you may have a more difficult time getting a mortgage. However, 652 is, generally, above the minimum of 640 credit score required by most banks. Your best bet is to go to a mortgage bank, not a commercial bank. You may have a better shot there and, at least,, you will have a quick answer.

Gary R. DeFilippo
Licensed Real Estate Sales Associate
Neuhaus Realty
718 689-3850
0 votes Thank Flag Link Sat Jun 1, 2013
see a mtge banker or broker and get a pre-qual or even better get pre approved.

then you'll know the range of properties to look at.

0 votes Thank Flag Link Sat Jun 1, 2013
Good even Deborahgillick,

First steps:

Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.

Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.

Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.

Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.

Put together your Team of real estate professionals and shop 'til you drop!

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services

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0 votes Thank Flag Link Wed Apr 24, 2013
Good evening please contact me and I will go thru
The process with you.
Cathy A. Greco
Defalco realty
0 votes Thank Flag Link Thu Jun 14, 2012
Visit or call a licensed loan officer..they can discuss the programs being offered now..
0 votes Thank Flag Link Thu Jun 14, 2012
There is a first time buyer program that may be of interest to you. There is a $15,000 grant offered to those who qualify. At the last seminar I attended they said the credit score needed to be 580 or higher. Qualifications are based on Household income and household size. If you have not owned a home within 3 years or are a first time buyer this program may help you. If you would like to hear more about the program, call me. I will put you in touch with the professionals that will let you know if you qualify.
0 votes Thank Flag Link Thu Jun 14, 2012
There are loan officers in my company that I could refer you to if you'd like....
0 votes Thank Flag Link Thu Jun 14, 2012
There are other factors besides credit that determine mortgage qualification, such as income, debt, etc.; therefore do visit with any licensed loan officer. Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously.
0 votes Thank Flag Link Thu Jun 14, 2012
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