Home Buying in Morrow>Question Details

Norma Blackw…, Renter in Morrow, GA

my credit score is 584. can i still purchase a home?

Asked by Norma Blackwell, Morrow, GA Thu Apr 21, 2011

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I work with a lot of people who have less than perfect credit, seems like you can get approved now. I tell all my clients that need a pre approval to visit The Lenders Network, I have seen loan approvals from them even with scores under a 600. So if anyone can get you a loan they can.

Good Luck!
2 votes Thank Flag Link Sat Aug 10, 2013

I know a loan officer who has program for challenged credit. Let me know if you would like their nformation.

Juan Y. Jackson
BJA Realty
0 votes Thank Flag Link Thu Apr 21, 2011

Unfortunately credit score does come into play on all loan applications and to get the best programs and rates you should be aiming for a 640+ credit score and with just about no late payments within the last 12 months. I would be happy to review and offer advice on what you could do to improve your score.

0 votes Thank Flag Link Thu Apr 21, 2011
There are other factors in addition to credit score that will determine qualification; therefore, do visit with any qualified loan officer(s), after reviewing your overall finances, credit, debt, etc., a determination on qualification can be made; if you don't yet qualify, your loan officer may suggest what needs to be done in order to qualify in the near future; 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 Apr 21, 2011
Yes, quite possibly. Wells Fargo has programs that will allow financing down to a 500 score (but the lower the score, the more down payment they require). They will also look at other items, like your debt to income ratio (how much you owe vs. how much you earn), payment history, ability to make a down payment and have required cash reserves, etc.

Give me a call if you'd like...I work in Clayton and Henry county mostly and would love to help you!

Barbara Adamson
Keller Williams Realty Atlanta Partners - Stockbridge, GA
0 votes Thank Flag Link Thu Apr 21, 2011
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