Can I Buy A House With A 650 Credit Score All Locations : Nationwide Real Estate Advice

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Susan Hoffla…, Real Estate Pro in Shoreview, MN
Susan Hofflander answered:
My Fiancee and I want to get pre-approved for a mortage. Our question about our credit scores, incomes, ...
Hmmm, wow. There are lots of factors at play here. I would suggest contacting a qualified loan officer or mortgage professional to discuss the variety of issues at play. You say she& ... more
0 votes Share Flag Tue Jan 3, 2012 Financing in Minneapolis
Dianne Hicks, Real Estate Pro in Rancho Bernardo, CA
Dianne Hicks answered:
I want to become a first home buyer but I don't know what to do. My credit is not the greatest ...
Ronda
My best suggestion would be go and sit down with a lender. They will tell you if you qualify and it you do not, they will tell you want you need to do to get into the purchasing ... more
0 votes Share Flag Tue Feb 9, 2010 Home Buying in 07666
Barbara Q., Other/Just Looking in Bergen County, NJ
Barbara Q. answered:
What are some good first steps a first time home buyer should take when looking to buy a home?
Winnie-
1.) Speak to a Lender to learn about loan qualifications - how much can you afford?
2.) Choose a neighborhood/school district/commuting distance
3.) Get a feel for what' ... more
0 votes Share Flag Wed Jan 27, 2010 Home Buying in San Mateo County
Lori Lewis, Real Estate Pro in Bethlehem, PA
Lori Lewis answered:
FHA loan qualification
Your ratios need to be 31/43

That means, you take all your debt divided by your income for the front (31%) and take all your debt plus your housing expense (taxes insurance plus pay ... more
0 votes Share Flag Wed Jan 27, 2010 Financing
MR, Home Buyer in Charlotte, NC
MR answered:
We'll be engaged shortly and she's really wanting to take advantage of tax credit. We'll b ...
I'm the original poster and wanted to add:

I've also read that if we proceed with having her get the mortgage in her name, we would be forced to refinance after marriage wh ... more
0 votes Share Flag Sat Jan 30, 2010 Credit Score in Charlotte
Laura Scaccia, Real Estate Pro in Exeter, NH
Laura Scaccia answered:
We would like to buy our first home, we recently applied for an online loan and got declined. Should w ...
Hi, Polly,

There are several programs that could help you. First - DON'T use an on-line lender! Second - contact a reputable mortgage broker. Depending what towns you are loo ... more
0 votes Share Flag Mon Nov 15, 2010 Home Buying in Manchester
Jeremy James…, Real Estate Pro in Scottsdale, AZ
Jeremy James Jack answered:
Do you feel it is a good time to buy a home?
Kathy,

When is the best time of the year to buy a home? There are at least two days of the year that give buyers the edge. Would you like to guess which two days are best for buying ... more
0 votes Share Flag Tue Jun 22, 2010 Home Buying in Oro Valley
John Shellin…, Real Estate Pro in Pearland, TX
John Shellington answered:
I would like to buy a house, but I was discharged from a bankruptcy 16 months ago and my credit score is ...
Ideally for an FHA, the minimum credit score for most investors is now 620. This should be your minimum middle score. You might find that you won't get the best rate until you hit ... more
0 votes Share Flag Sat Oct 9, 2010 Financing in Racine
Bentley Advi…,  in San Mateo, CA
Bentley Advisors answered:
I'm self-employed, single mom, making $120k annually, credit ranging 690 to 735 among 3 bureaus, ...
Assuming you truly have $120k of documented income, have zero debt and a min qualifying credit score of 700, you might qualify for an $800k+ purch price. With your $200k down, the loan ... more
0 votes Share Flag Wed Jan 6, 2010 Financing in Pasadena
John Bennett, Real Estate Pro in Orlando, FL
John Bennett answered:
I want to buy a house but i don't have money for the down payment. Can we buy a house or not?
Laura, don't push the limits.

Find you a good Loan broker and plan VERY carefully.

John
0 votes Share Flag Wed May 4, 2016 Home Buying in 33126
Dorene Slavi…, Real Estate Pro in Torrance, CA
Dorene Slavitz answered:
im interested in becomin a first time home owner
Dear Ms. Boop,
I would recommend that you begin to interview potential agents who work with first-time homebuyers in your area. I can give you a referral if you would like, just send a ... more
0 votes Share Flag Fri Feb 19, 2010 Home Buying in New Orleans
Texas Banker, Other/Just Looking in Houston, TX
Texas Banker answered:
Self employed financing.
Before, looking for a house; first of all know what your credit looks like. This will save you and your realtor ALOT of time and frustration.

If you have some issues you will have ... more
0 votes Share Flag Tue Jan 3, 2012 Financing in Dallas
Joshua Jarvis, Real Estate Pro in Duluth, GA
Joshua Jarvis answered:
What kind of home can an annual salary of $39,000 get me?
Wrong question!

What do you want your monthly payment to be? That's the question. You figure that out, it's very easy to find out what price range should be.

It' ... more
0 votes Share Flag Wed Feb 10, 2010 Home Buying in 30064
Pierre S King…,  in Brooklyn, NY
Pierre S King (Free Real Estate Tips From The King) answered:
we have a credit score between 525-550. we make about $7400 a month before taxes. we have a debt about $12 ...
Dear Ann7676:

You may not qualify for a home loan: You do meet the income requirement and the Debt to Equity level. But your credit score is low. You will have to begin making your p ... more
0 votes Share Flag Thu Jan 7, 2010 Home Buying in Minneapolis
Elizabeth He…, Real Estate Pro in Agawam, MA
Elizabeth Herbert answered:
what kind of down payment would i need to buy my first house?
Usually it's anywhere from 3% and up. It depends on how much you can afford and for what kind of financing you would qualify. USDA loans are %100 financing but have certain requi ... more
0 votes Share Flag Fri Oct 16, 2009 Financing in Clinton
Carl Henker,  in 95928
Carl Henker answered:
Is there any stated income program available in San Jose, CA (Bay Area)? I'm looking for one urgently ...
Stated income programs are all in Jurassic Park. You may find private money if you have between 40% and 50% down expect to pay above 10% in interest rates. It is time to start reporti ... more
0 votes Share Flag Fri Jan 8, 2016 Financing in San Jose
Ulli Rieckma…, Real Estate Pro in Los Altos, CA
Ulli Rieckmann-Fechner answered:
Is Now A GOOD Time to buy a HIGH PRICE home ?
Hi Maybuy,

The answer is very simple: yes. Interest is still very low even for jumbo loans and home prices are down. Also, as most higher priced homes take longer to sell, the seller ... more
0 votes Share Flag Tue Mar 13, 2012 Home Buying in 94024
Sean Dawes, Other/Just Looking in Philadelphia, PA
Sean Dawes answered:
iam a first time homebuyer. i have a good credit score and both me and my wife are working. we have 1 child. ...
Edge,

Great idea posting on here. If you dont get the feedback you are looking for, I suggest you go under the Find a Pro feature in the Advice and Opinions tab to search for an act ... more
0 votes Share Flag Wed Aug 19, 2009 Home Buying in Norwalk
Kevin, Other/Just Looking in Texas City, TX
Kevin answered:
do u have to have at least a credit score of 650 to get the $8,000 tax credit?
hi
its not necessary that you have to have a credit score of 650, if you qualify for the loan and you are a first time home buyer then you can apply for $8,000 tax credit. Also, your i ... more
0 votes Share Flag Sun Oct 3, 2010 Credit Score in New Haven
Scott Riggsb…, Real Estate Pro in Randleman, NC
Scott Riggsbee answered:
My family and I are starting the process of trying to relocate to North Carolina...not definite on what city ...
Hey Dee Dee,

Allan is exactly right. You can't go wrong in Pinehurst/Southern Pines. 2 hours to the beach, mild climate year round and a controlled growth over the last 10-20 years ... more
0 votes Share Flag Mon Aug 3, 2009 Moving in North Carolina
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