Home Buying in 90045>Question Details

Randy Evange…, Home Buyer in 90045

is it really possible to qualify for an FHA Loan with credit score around 620 and income of about $100k in California?

Asked by Randy Evangelista, 90045 Tue May 8, 2012

Help the community by answering this question:


Many landers, myself included can do this deal. If you don't have a referral to a good loan officer, feel free to ask me for one or if you'd like, I could assist as well.

If you're looking up a loan officer on here to work with, anyone you're interested in, look through their profile and some of their Q&A as well to see how knowledgeable they are and go with your gut. Some people prefer local regardless of expertise, others will go wherever the expertise on their desired loan is, others will just work with whoever meets some other unknown criteria. If you're a first-time buyer, don't focus on your rate because you'll go crazy watching the markets everyday (if you're inclined to do so), just make sure you find the right loan officer and a good Realtor and the rest will fall into place.

Best of luck to you.
Web Reference: http://RobWeber.com
1 vote Thank Flag Link Tue May 8, 2012
those are not the SOLE factors in qualifying a borrower, so i wouldn't hold your breath just yet.

FHA loans can be done with credit scores as low as 620 under their FHA all encompassing guidelines.

FHA loans with such score, enough income to qualify the borrower, and considering the remaining parameters to qualify you for a loan, all fall into place, you should be a-ok.

However, without more specifics and circumstances of your specific situation, it would be impossible for me, or any mortgage company to give you a firm yes or no answer on whether or not they can and will do your loan.

I am working this weekend, and throughout this week. i will be able to chedule some time to speak with you, if you want to go over the specifics, and the options available to your specific file, you are more than welcome to email or call me. I can walk you through the variations between conventional loans, the minimum down on Conv. VS. FHA loans, and other programs that might be suitable for your loan, payment, equity and occupancy needs.

818-917-0929 (my cell phone)

Shaida Tafreshi
RPM Mortgage - Manhattan Beach, CA

818-917-0929 (cell)
0 votes Thank Flag Link Sat Jun 22, 2013
It is possibility I would contact a direct lender specialized in FHA lending. FHA is a great opportunity of prospective buyers. Attached is general guidelines for FHA subject to verification of rate and terms by lender.

Gail Mercedes Cole
EXP Realty
0 votes Thank Flag Link Wed Jun 12, 2013
Yes this can be accomplished. More information ids required so if you need a lender to talk with feel free to contact me and I can put you in touch with one. Great question!
0 votes Thank Flag Link Sun Jan 6, 2013
Yes...it is possible! Contact a mortgage broker who may qualify you for a FHA loan.

Good luck!

0 votes Thank Flag Link Tue May 15, 2012
Yes, it is, but i wouyld need more info to see where you stand. Ive got some amazing lenders who have done wonders for my clients in the past. So contact me if you would like some help.

Neal Grusky Estates
DRE# 01890580
Hpremiere Properties
Real Estate and Financing
10940 Wilshire Blvd. Suite 1600,
LA, CA 90024 | Office:
(800) 652-1768
| Fax: (800) 652-7604
0 votes Thank Flag Link Wed May 9, 2012
It could be possible. But a loan agent is going to require more information to determine your possibility.

Let me know if I can refer an FHA loan agent to help you.
0 votes Thank Flag Link Tue May 8, 2012

Some lenders will accommodate the 620 score, but all lenders will want to know why the score is at that level. Find a loan professional who will run your pre-approval free of charge and figure out if there are any items on the credit report that you'll need to address before you can fully approved for the loan.

Best of luck and let me know if I can help.

Rob Spinosa
0 votes Thank Flag Link Tue May 8, 2012
Yes, it is possible to qualify for an FHA with 620 score. With about $100k in income your purchase price could land around $500,000. Some key factors might depend on if you have big debts, auto loan or large credit card debt.

Contact me if you need an experienced loan agent. I wll send you his contact information.

Sonya Chun
0 votes Thank Flag Link Tue May 8, 2012
It's very possible assuming you meet the other criteria. It's more than credit score but I'd say you have the basics down. Contact me if you would like to know for sure.
Web Reference: http://WeFixRates.Com
0 votes Thank Flag Link Tue May 8, 2012
Yes, give Eric Lawson of Land Home Financial a call, he will take great care of you. 925-771-2444
0 votes Thank Flag Link Tue May 8, 2012
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