There are a small handful of lenders out there will do FHA with as low as a 580 credit score, but just because you meet the minimum score requirement doesnt mean you will qualify.
Lenders also look at the "why" behind your credit scores. If you always pay late or have trouble with running up lots of debt then how does that make a lender feel secure in lending you money?
Income and debts are the key predictors of ability to make the house payment. Credit score is the greates indicator that you are willing to pay it.
My best advise to you is to work on your credit until you can get it in the 600-640 range. Then you will have your choice of good lenders with low rates to work with instead of just barely scraping by and having to go with the only game in town.
Tony Grech | Mortgage Loan Originator | NMLS 977416
PMAC Lending Services, Inc.
Toll-free (855) 642-4762 | Fax (248) 945-4842 | Direct (248) 728-0078
C Grant, its over $40,000 but it is a great home at 318 West 8th in Newport, KY . It has a large fenced in yard for animals and there are good mortgage companies available were you could have low monthly payments. Plenty of space, for the growing family in the future or just for family and friends to stay over. It's very close to Covington for your job and you can be at NKU or UC in 15-20 minutes depending on where your girlfriend attends. It is in a safe area and close to Newport of the Levee for fun and entertainment. Take a chance, there will be an open house there on November 3rd, from 1 to 3PM. Contact Russ Connors for more details.... more
I work with investors. Some are saying the banks are hesitant to lend any more money to them and others are bargain hunting. I would be happy to view your properties and give you my opinion. Thanks!... more
I am Jim Morris Associate Broker with the Realty Place, jimsellsnky.com I service 8 counties covering all of Northern Kentucky. If you could contact me either by e-mail or phone 859-393-8486 and share a little more information in regard to the properties. I would be happy to put together a marketing plan and comparables for your review.... more