Home Buying in Central>Question Details

Claude Okegue, Home Buyer in Tacoma, WA

my name is claude my credit bat so know i have a good job and i would to buy house can you give me mores information

Asked by Claude Okegue, Tacoma, WA Sun Jan 29, 2012

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4
Jack L Hansmann’s answer
If you have a 580 credit score and have a good payment history on current accounts, 2 years employment history...you may be able to qualify for an FHA 3.5% down...I see them done every day and specialize with those buyer...Jack 253-221-6000
0 votes Thank Flag Link Tue Mar 12, 2013
Go to your local non profit housing group for credit counseling. The counselor will go over your credit report with you. They will tell you what you are doing wrong and what you should be doing. Listen to them and when your score is 640+ you can think of buying.
0 votes Thank Flag Link Mon Jan 30, 2012
As a loan officer & real estate broker, I can help you. If you have a good down payment, you can buy right away with a lease to own or delayed closing. There is an broker down your way that can help you find this home. If not, then you want to restore your credit. It will take a year to do that, but I can help you. Call me at 206-841-9976 & we can discuss your options.
0 votes Thank Flag Link Mon Jan 30, 2012
Claude,
If your credit is bad, it really depends on how bad. Credit scores below 580 are not getting approved often if at all. Between 580 and 620 it's technically possible, but tough. As the scores go above this the odds of approval improve and so do the rates.
It may be a good idea to start by working on improving your credit. Pay all bills on time, keep your balances low, pay down any large accounts and address any errors that may appear on your credit report.
Down payment is also helpful in getting approved with low scores, the more you can put down, 10% if you are around 580 to 620 the better your chances are. I hope this helps.
0 votes Thank Flag Link Sun Jan 29, 2012
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