Apurva Sangh
's Questions (2)
Apurva Sangh
's Answers (2)
Apurva Sanghavi answered:
HI Shayla,
unfortunately a 523 credit score is on the lower end of the scale, i would highly recommend finding a good credit consultation company who can help you fix your credit, that would be the first step in getting a mortgage loan. Please keep in mind, to restore your credit it typically takes 6-12 months depending on what the negative items are, sometimes some items may never be "fixed".
Other options are of course renting until you get your credit repaired, or finding a seller who is willing to "owner finance" their property, or "rent to own". Though they will typically want to see a strong credit history as well, or require hefty down payments or deposits.
i hope this helps, Best of luck! - Mon Nov 10 2008, 21:36
Apurva Sanghavi answered:
also note that a pre-approval isnt ALWAYS, mean you obtained financing, there are still many contingencies to a full approval... most certainly not wishing you a dreaded "DECLINE", but pre-approval is hardly enough to consider fully obtained financing. hope this helps! - Fri Apr 18 2008, 10:58
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