Question Details

Christine Bu…, Home Buyer in North Carolina

My credit score is 648, my annual income is 27,000,can I buy a house?

Asked by Christine Burke, North Carolina Thu May 22, 2008

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Here is a great article for you on how to improve your credit history. Good luck and let me know if you have any more questions…

Vera Brodsky
1 vote Thank Flag Link Thu May 22, 2008
Sure you can. Please contact the person below for assistance.
1 vote Thank Flag Link Thu May 22, 2008

Neither your score, nor your income alone are show stoppers. What's going to matter is a combination of things, including what kind of purchase price, size of home, and location, etc., are going to meet your needs. If you have champagne tastes on the shoe string budget, well, then that's a problem. Careful, you want an answer that makes sense for your situation, not simply an answer that figures out how to squeeze every drop of money out of you in the hopes of getting you to buy a home. Talk with your coworkers, friends, family, and find a good lender who can take your information and give you an honest assessment of your situation.
Good luck,

1 vote Thank Flag Link Thu May 22, 2008
You can buy a house, just not "alot" of a house. Your "ratios" will be very important and this depends on how much debt you currently have. I assume you have a good sized down payment available for your purchase?
1 vote Thank Flag Link Thu May 22, 2008
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