Home Buying in Northampton>Question Details

Keri Rivas, Home Buyer in Springfield, MA

would I qualify for a mortgage if my credit was 620 and monthly gross between my husband and I is 4300?

Asked by Keri Rivas, Springfield, MA Wed May 4, 2011

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Email me I can FWD you the loan guy I send people who are hard to quailfy to. He is out of West springfield.
0 votes Thank Flag Link Wed May 4, 2011
In general, yes. We lenders also consider your monthly recurring debt which effectively reduces your income somewhat. There are also specifics in your credit history we look for, so it's not simply the score that makes things work or not.

Why not ask a lender or two with whom you are comfortable for a free mortgage loan pre-approval? They'll answer any and all questions. Feel free to contact me if you wish!

0 votes Thank Flag Link Wed May 4, 2011
Been working at the same employer for over 10 years 1 collection a couple years ago (maybe 4 years) had credit at a 660 but recently refinanced my SUV
0 votes Thank Flag Link Wed May 4, 2011
A lot will depend not only on your income and credit scores, but on how the income is derived (i.e., is it hourly wages, salary, commission, sslf-empliyment), but on your overall credit as well (i.e., any recent collection accounts, late p yments, bankruptcies, and so on).

You should speak with a mortgage lender or broker and see if you can get pre-approved for a mortgage.
Web Reference: http://Lew.BestChoice.net
0 votes Thank Flag Link Wed May 4, 2011
I think you would if no other debts, contact a reputable lender in your area and ask them to do a prequalification for you or even Wells Fargo on line! Good Luck.
0 votes Thank Flag Link Wed May 4, 2011

I work as a mortgage banker and am based here in Mass. I have loan programs that go down to a 620 credit score and i would be happy to pre-approve you. Feel free to call or email me

Steve Boucher
0 votes Thank Flag Link Wed May 4, 2011
Different lenders require different scores for their various programs. I have somebody who works with peoplewith scores 600+ so if I can be of any further assistance to you I'm the Trulia Featured Agent for Northampton and can be reached via elizabeth @elizabethherbert.com
0 votes Thank Flag Link Wed May 4, 2011
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