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Credit Score in Connecticut : Real Estate Advice

  • All288
  • Local Info23
  • Home Buying150
  • Home Selling33
  • Market Conditions6

Activity 16
A few hours ago
Info answered:
Hi Fernando,
Each bank looks at credit scores differently. FHA loans do require a 580 credit score. There are many options when it comes to financing a home. If you have other assets or more money to put down that is always helpful. You can also have a family member co sign on the loan to have more flexibility.

Good Luck,
Brad Hay
Blue Trail Realty
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Sun Jun 18, 2017
John Burke answered:
Hi Howard,

The short answer is not really. If anything a new inquiry on your credit report might cost you 2 or 3 points but that's about it.

Allow me to throw my hat in the ring.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
Apply Online:
NMLS# 787231
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Tue Nov 29, 2016
All Prop Investments answered:
Sat Oct 29, 2016
Tms616 answered:
Yes, keep some open credit cards even if you have paid them off in full...I learned the hard way...paid off my car, sold my house and closed all my credit cards. It was like starting all over again. Now, I keep two unsecured credit cards open, spend a little now and then pay it off again. Still driving 10 year old car with no debt. Putting car payment into savings so when my little beauty costs more to fix then it is worth, I will be able to purchase a new car without having giant debt. ... more
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Fri Oct 28, 2016
Mark Brown answered:
Loans aren't solely based on credit score. You could have an 800 FICO but only earn $22K a year. You aren't getting that $100K from a bank.

You could earn $500K a year with a 620 FICO and you would have a better shot at it if your income to expenditure ratio is low enough. ... more
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Thu Sep 22, 2016
Hcrescenzo2 asked:
not have anyone to cosign but we both work and I can get a reference from my current landlord to show that I have been paying my rent on time. We need the apartment as soon as possible.…
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Thu Jan 8, 2015
Jean-Leon Magnotto answered:
Any good local mortgage broker should be able to pull your report and review it with you,and run you through a credit simulator to help figure out how to optimize it. Good luck !
0 votes 2 answers Share Flag
Thu Dec 4, 2014
Daniel D. Thomas answered:
Hi CtZully21,
We would need a bit more information to see if you qualify for a loan, however if you had a credit score two years ago, chance are you still have one. Our first step would be to have a lender (we have a few great ones we can refer to you) repull your credit to make sure we have the most accurate data. If you have solid work history (and little debt) you will be an ideal candidate. There are loan programs that are not credit score driven (CHAFA being one of them) that will look at your credit history and not your score. Please feel free to give me a call and I’d be happy to have one of our local lenders follow up with more information. It sounds like you are on the right track.. –Daniel D. Thomas (203) 520-7390 ... more
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Mon Mar 31, 2014
lisa marineau answered:
We use landlord services. It costs 13$ per individual and 21$ for joint application.
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Wed Mar 12, 2014
Robert Hanson answered:
Hi Shelly,

You should have options for conventional and FHA as long as you can put at least 5% down. What is best for you will depend on other details. You need an experienced lender, willing and able to take the time to lay out a variety of these options and discuss the pros and cons of each. Then you can make an educated decision on the best program for you.

I am available to help you at your convenience if you wish.

I also offer credit score improvement programs for free while we work on your mortgage.

If you like my answer above, consider clicking on a “Thumbs Up” or “Best Answer”


Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist

Direct: 240-752-7549 Cell: 301-651-7822
NMLS# 695929

Rate quote or live chat with me at the link below:
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0 votes 6 answers Share Flag
Thu Nov 21, 2013
Ted Kostzewski answered:
Your credit score is above what is generally required. These days qualifying can be a little intense because of past lending policies. If this is a forcclosure and you have requested renovation financing, as well, it may be that an issue continuous income or ability to pay is concerning the lender. That being said, it appears you're still in the game and it is now wait and see. Apart from increasing your income or lowering your debt, and if finances allow, ask your lender how much of a difference it would make if you put more money down up front. Usually, this allows for a lower credit score in this type of loan, but maybe asking for less of a mortgage could turn the tide in your favor. Underwriters can appear unfeeling and it's all numbers to them, but their job is to protect the lender and to avoid their incrimination. I wish you the best of luck. Hang in there. ... more
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Sat May 18, 2013
Laura Frisch answered:
You may qualify to be considered a loan with a 608 credit score but getting a loan is more than just your credit score. The lender will look at why your score is 608, when was the last time you had a late payment on any of your debts, and your job history. This overall picture is a better determinate if you will be able to secure financing. ... more
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Fri Aug 5, 2011
Candace Lipira answered:
I have a question. Is your name still on the mortgage, but as you wrote not on the house. It has been my experience that an attorney should be consulted. Although your husband does pay on time, you, from what you said. would still owe a portion of that debt if your name is still on the note, Again if your name were still on the note, that could become a problem with debt to income when you decide to apply for a loan to purchase another home in your name only. Ask the attorney about a title search issue if your husband should decide to sell the home.Also, in this environment if the sale, if that were to happen, wrer short, you may just be responsible for part of the short fall. I am not expert., Please contact your attorney for further advice. This could be just a case of the 3 credit bureaus not having the paperwork correct, Ask you attorney.

Candace Lipira
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Thu Jul 8, 2010
Spirit Messingham answered:
I can't stress enough you need to talk with a mortgage broker, a lender not a Realtor. With the "financial crisis" things have changes a lot in the past couple of years in regards to getting a loan. A good lender will walk you through your FICO score and your overall credit picture. Help you understand where you are at now and what you can do to increase it. The good news is in time, you can make it better and then go back to get/secure the loan. If you do not know of any lenders in your area, start with your Bank as many have incentives for their existing clients.
Good luck.
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