would i be able to get a home loan with a score of 576?

Leticia74
Leticia74
Other/Just Looking
Beeville, TX

thinking about buying a home.

Mon Apr 20 2009, 16:41 - Home Buying in Beeville - 3 answers
Helpful
 (0)  
Email Alerts
Send to a friend
Save
Report  
Answers (3)
Sean Dawes
Sean Dawes
Agent
Philadelphia, PA

Is there any way for you to increase your credit? Pay down the highest interest credit cards first if you have them or consolidate debt to lower rates so it doesn't keep adding up?



Sean Dawes
Long and Foster Real Estate Inc.

Web Reference: http://www.SeanDawes.com
Mon Apr 20 2009, 19:39
Helpful
 (0)
Link to this answer
  Report
Tom Burris
Tom Burris
Mortgage Broker
or Lender
Dallas, TX

Leticia
Buying in Beeville, you may qualify for USDA which requires a 580 score I believe.
FHA requires a 620.
http://dallasloanguy.com/docs/about_credit.pdf
Here is a link to a free book about credit. Read it!!
Then you need to get with a loan officer who understand credit scoring real well.... you may be able to tweak a couple of things really fast and get those scores up!!

Tom Burris
DallasLoanGuy.com
214-763-4629

Web Reference: http://www.dallasloanguy.com/
Mon Apr 20 2009, 17:41
Helpful
 (0)
Link to this answer
  Report
Dana Schuster
Dana Schuster
Agent
70461
FIRST ANSWER

The minimum required in this market is 620 for an FHA with 3.5% down. You will also need a 2 year work history ,an acceptable debt to income ratio and sufficient income to meet the monthly note plus taxes & insurance.

Mon Apr 20 2009, 17:28
Helpful
 (0)
Link to this answer
  Report

Didn’t find what you were looking for? Ask a question!

Search Advice
e.g., "foreclosure", "short sale", "mortgage"
e.g., "San Francisco, CA", "New York, NY"
SEARCH

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback