Financing in Fairless Hills>Question Details

Valeriewarne…, Home Buyer in Levittown, PA

I don't have good credit but I have guaranteed income can I still obtain a mortgage

Asked by Valeriewarner1, Levittown, PA Tue Oct 11, 2011

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Central lending works with scores as low as 580!
0 votes Thank Flag Link Sun Nov 24, 2013
Hello Valerie,
The answer is probably yes - but you may pay a higher interest rate and possibly need to jump through more hoops. Your best bet is to check with a mortgage person in a bank, credit union, or mortgage company and ask questions. You should get more than one opinion, but don't have more than 3 credit reports run - preferably two! I have several good people I have worked with and have no affiliation with that I can recommend to you, as well as some important questions to ask. Feel free to email me at

Toni Battiste
Exit Home Realty
Fairless Hills, PA 19030
Direct 215-485-7131
0 votes Thank Flag Link Wed Oct 12, 2011
Celeste Spadaccini is our in-house Mortgage Broker, and she can walk you through the entire process.
Thank you,
Kurfiss Sotheby's International Realty
0 votes Thank Flag Link Tue Oct 11, 2011

I do believe that banks are looking for high credit scores these days but that's not to say that there isn't a program out there for you. If you have money saved for your down payment and closing costs, you will be ahead of the game. Go to the source and discuss the new rules. Everyone is going to suggest you go to their mortgage consultant however you can ask a friend for a referral or contact your local bank. If you do need a reputable mortgage consultant, feel free to ask me and I will be happy to put you in touch with someone. I do not receive any type of fee for referring you.

Feel free to e-mail me if you would like me to answer anymore questions.

Renee Porsia
Associate Broker
(215) 669-0589 Direct
(215) 358-1100 Office (ask for Renee)
0 votes Thank Flag Link Tue Oct 11, 2011
roughly bank wants only about 1/3 of your income to go to a mortgage payment. if you can meet that you can have a mortgage. Your bad credit will either disqualify you from the loan or getting a higher rate loan.
0 votes Thank Flag Link Tue Oct 11, 2011
There are other factors besides credit that determine mortgage qualification, such as income, credit, debt, etc.; therefore you really need to visit with any loan officer(s); be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously...
0 votes Thank Flag Link Tue Oct 11, 2011
Hello Valerie,

Please allow a Mortgage Professional to evaluate your finantial cituation and let you know what you may qualify for. If you want i have several Good Brokers i work with that i can recommend.
After you get qualified I can help you find a home.

Alexander Shulzhenko
Realty Mark Cityscape
267 738 0886
0 votes Thank Flag Link Tue Oct 11, 2011
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