Asked by House-hunter, Columbus, OH • Wed Apr 30, 2008
I am looking to purchase a home (condo) in Columbus in the very near future. I have already been approved for FHA financing, but it turns out that none of the condos I am interested in are FHA eligible. I have proof of stable employemtn, currently earn just over $75,000 a year, and am looking to purchase a home in the range of $150,000-175,000. I have the funds for a 5% down payment. The problem is my credit. One of my scores is around 710. The other 2 are in the 640's. I've been told that my middle (or average, depending on who I talk to) score needs to be at least 680 for conventional financing. Does anyone know of available options for conventional financing for me now or do I need to wait until my credit scores improve?
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