Property Q&A in Freeport>Question Details

elwin lans, Real Estate Pro in Baldwin, NY

Interested in buying a home, is their age discrimination, and what is a okay credit score, when my credit is not good to get a mortgage loan

Asked by elwin lans, Baldwin, NY Fri Apr 27, 2012

any banks, no particular one, also heard that Nassau County gives loans for people buying a house

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Age discrimination is illegal. You should just have to be at least 18 years old to enter a binding contract. The only way to find out if you can buy a home is to get a thorough preapproval. Is this something you're interested in doing? If so, let me know and I will connect you with a sound mortgage broker/banker. For follow-up questions, feel free to call me at (516) 867-7972.
0 votes Thank Flag Link Tue May 1, 2012
Discrimination should not exist; most lenders prefer a credit score of 640, however there may be others that are willing to work with less. See links below for other helpful information; if you haven't done so yet visit with any licensed loan officer....
0 votes Thank Flag Link Sat Apr 28, 2012
I also want to add that the Long Island Housing Partnership gives grants (not loans) to people who meet their income limits. They will help with down payment, closing costs and sometimes funds for renovating a house. Contact them for more information and to see if you qualify.
0 votes Thank Flag Link Fri Apr 27, 2012
Discrimination is not allowed in home buying. If you are over 18, have sufficient income (on the books), enough cash for a 3.5% downpayment and a credit score of 640 or higher, you can get an FHA mortgage. I recommend you speak to a mortgage broker or mortgage banker and get a pre-approval. Not only will it help you to determine how much you can afford, you will also be prepared to make an offer once you do find the right house. It will also give you an opportunity to look at your credit score and get some advice on how you can improve it. If you don't know who to go to, contact me. I will be happy to provide you with a list of reputable mortgage experts in the Freeport area.
0 votes Thank Flag Link Fri Apr 27, 2012
Hello Elwin,
One should be of 18yrs of age.
Score anything over 580 should get you a loan.
But will be expensive than if you have a 620 score.
Good luck and need more help please ask.
Web Reference:
0 votes Thank Flag Link Fri Apr 27, 2012
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