Property Q&A in Queens>Question Details

peaceofmind01, Home Buyer in Lynbrook, NY

I am looking to purchase a house by the end of the year. Our credit score is low but have $165,000yr income. should we rent to buy.?

Asked by peaceofmind01, Lynbrook, NY Thu Oct 4, 2012

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Try to not make any late payment or over charge any of your credit cards.
Speak with a few loan brokers, just a little home work from you will help save you some money.
0 votes Thank Flag Link Fri Oct 5, 2012
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, therefore begin by visiting with any licensed loan officer, then decide, buy or rent--if you need recommendations feel free to contact me directly.
0 votes Thank Flag Link Thu Oct 4, 2012
As long as you have a 620 FICO or better you should be ok. I would recommend you call Angelo Gionis from Continental Home Loans at (516) 833-8804 and he'll be able to guide you. With rates hpvering in the low to mid 3's I would recommend buying instead of renting if at all possible.
0 votes Thank Flag Link Thu Oct 4, 2012
Please get in touch with Brian Tom of Cliffco Mortgage Bank at 516-448-2434 or

If you are showing income, they may be able to work around the score issue.

As soon as he has provided you with a pre-approval, give me a call and my group and I will assist you in finding a home.
0 votes Thank Flag Link Thu Oct 4, 2012
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