What is a minimum acceptable credit score for a first time home buyer with 10% down.?

Asked by Terry O'neill, Houghton Lake, MI Mon Mar 11, 2013

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90
Mpalmer, Home Buyer, New York, NY
Thu Nov 3, 2016
I am amazed at how many "agents" DID NOT answer the very specific question that was being asked! Take that as a warning not to use their services. The answer to the question is: A FICO score of 550 is the minimum that will get you in. The problem is finding a lender that is willing to go that low.

However, if you make LOTS of calls to hunt it down, it can be obtained. Any other credit issues have to be resolved also though e.g. open collection accounts, judgements, liens, etc.

Meanwhile, do not use agents that cannot answer a simple straight-forward question upfront.
39 votes
Exactly, most realtors are like car salesmen...... I've had years working, talking, tolerating and avoiding them as much as possible.... It is a rough world out there....
Flag Wed Nov 9, 2016
If you have just n10% down, it will be more difficult on a 550. BUT, there are first time buyer programs (available to ANYONE who hasn't purchased or refi's a home in at least two years) And yes, STAY NAWAY from agents who are vague or wont straight up answer a question. NEVER forget they work for commission AND, if you are pre-approved for a loan, they will push you to your higher limit. BE IN CHARGE. The agent is supposed to help you, not pad their pockets by pushing you to your limits. Slippery snakes, some of them are.
Flag Thu Nov 3, 2016
Some Lenders will go as Low as 550. In my area Most Lenders do not go below 620. USDA loans require a minimum of 640 and other loan programs require your credit at a certain rate. Your best bet, if youre trying to buy a house with a 550 credit score, is to be prepared to have a sizable down payment.
Flag Thu Nov 3, 2016
Some Lenders will go as Low as 550. In my area Most Lenders do not go below 620. USDA loans require a minimum of 640 and other loan programs require your credit at a certain rate. Your best bet, if youre trying to buy a house with a 550 credit score, is to be prepared to have a sizable down payment.
Flag Thu Nov 3, 2016
Some Lenders will go as Low as 550. In my area Most Lenders do not go below 620. USDA loans require a minimum of 640 and other loan programs require your credit at a certain rate. Your best bet, if youre trying to buy a house with a 550 credit score, is to be prepared to have a sizable down payment.
Flag Thu Nov 3, 2016
I brought a home in South Carolina with a credit score of 650 and no money down with a fabulous agent names Eric Mott
Denise Home Buyer, Elgin S.C.
Flag Thu Nov 3, 2016
I have an 830 credit score, and I can't qualify for a mortgage over $200,000! It isn't that simple. I'm retired and do not have W-2's. The person I am buying it with has had a small business for 28 years and they won't even put him through the process. Welcome to the new America.
Flag Thu Nov 3, 2016
I was able to get a home loan at 624 with $25,000
Flag Thu Nov 3, 2016
we were told for va we needed a 620
Flag Thu Nov 3, 2016
the va said to us that we had to have 580 at the lowest but have a 620
Flag Thu Nov 3, 2016
the v.a. will as long as it is not what the call a Jumbo loan, anything over $425,000.00
Flag Thu Nov 3, 2016
Thank you, it just amazing how some people walk around a simple question. You are correct, if you do not get a straight answer's stay away from these companies and people (agents) they are not thinking about you nor will they ever be helpful. I just might also add one more word, do not use any real estate appraiser these people get. Found your own appraiser. Plus do not use their home inspectors either.
Flag Thu Nov 3, 2016
Seriously, thank you for your detailed response. There are a lot of loopholes that, as first-time home buyers, we are trying to navigate through. Follow-up question coming your way: Does the 550 FICO score also apply to join applicants? I.e., his credit is good, mine is on the mend (~650) from repaying medical bills and this is the kind of stuff we're worried about.
Flag Thu Nov 3, 2016
, Home Buyer, Atlanta, GA
Thu Apr 14, 2016
Terry-

I can see a lot of self-advertising and self-promotion in most of these responses. All you "professionals" should be ashamed of yourselves. This is an honest question that can easily be answered without trying to scramble up some business for yourselves. I can give some solid and basic advice here, being on the actual CONSUMER side and not the "PRO" side-
Every lender has varying requirements and there is no definitive guaranteed approval FICO score. Lending and mortgages in particular have many elements to which they consider to approve a loan. The more understanding you have of these elements will give you the insight into which variables you can best evaluate your current position and the likelihood in which you will be approved. My husband and I were on the lower spectrum of scores (630ish) when we were approved for a $320k coventional 30yr fixed rate (@4.25%) in late 2014.
Finding an actual mortgage "broker" that we could deal with directly made the world of difference. If there is any hesitation (I get he feeling there is) then you need to find one you connect with and trust immediately. This person will be your go-to for everything. Believe me when I say, you'll know as soon as you start talking with them if they are your "one". I spoke with literally 50-60 different lenders, officers, banks, etc before I was referred to "my girl". It wasn't more than 5 minutes into the conversation that I could tell we spoke the same language. She clearly acknowledged and addressed each of my concerns without hesitation and without confusing me with numbers or terminology I didn't understand. she never rushed me, or moved on until we were on the same page with every single aspect of the process. I was diligent in doing my research and preparing all the financial history and records lenders need to move through the process and this helped tremendously. My recommendation to you is: take the time to research how thoroughly these banks/lenders comb through your financials and get all the records and history together before you even begin searching for a lender. you'll be much more prepared to answer their questions and you'll show that you're more worthy of being approved when you can show your determination through preparation. I hope this was helpful. If you would like a referral to "the queen of mortgages" as I often now refer to her, I'd be happy to send you her contact info.

Bryan
30 votes
I would also like to know who the queen is. I am looking to buy very soon in Georgia
Flag Sun Nov 6, 2016
I would also like to know who the queen is. I am looking to buy very soon in Georgia
Flag Sun Nov 6, 2016
I would also like to know who the queen is. I am looking to buy very soon
Flag Sun Nov 6, 2016
i would like to know who the queen is i am looking to buy very soon
Flag Sun Nov 6, 2016
I would like to know who the queen is
Flag Sun Nov 6, 2016
Henrybfrankie: what happend? Tremers? Earthquake? DTs? Hiccups?
Flag Fri Nov 4, 2016
would like to know who your "queen of mortgages" is am looking for a lender now and would appreciate the heads up
Flag Fri Nov 4, 2016
would like to know who your "queen of mortgages" is am looking for a lender now and would appreciate the heads up
Flag Fri Nov 4, 2016
would like to know who your "queen of mortgages" is am looking for a lender now and would appreciate the heads up
Flag Fri Nov 4, 2016
would like to know who your "queen of mortgages" is am looking for a lender now and would appreciate the heads up
Flag Fri Nov 4, 2016
would like to know who your "queen of mortgages" is am looking for a lender now and would appreciate the heads up
Flag Fri Nov 4, 2016
Bryan, I do Debt Negotiation for many of the "great" mortgage brokers. I have also seen many Realtors and mortgage brokers and "credit repair" companies actually make clients pay more and not properly address what is on their credit. I can look at a credit file and in one hour on the longest file tell you what can and cannot be done and the best things to do. That is self promotion but I am smart enough not to take on all cases but to be honest rather than getting hopes up.
Flag Thu Nov 3, 2016
Great response Bryan!!!!! You are so right, being comfortable with a lender is the BEST! Make sure to interview and get the right one for your situation!!!!
Flag Thu Nov 3, 2016
Please share her contact information
Flag Thu Nov 3, 2016
Can you provide the mortgage brokers contact info?
Flag Thu Nov 3, 2016
Can you provide the mortgage brokers contact info?
Flag Thu Nov 3, 2016
what is mortgage brokers name?
Flag Thu Nov 3, 2016
Bryan, I do Debt Negotiation for many of the "great" mortgage brokers. I have also seen many Realtors and mortgage brokers and "credit repair" companies actually make clients pay more and not properly address what is on their credit. I can look at a credit file and in one hour on the longest file tell you what can and cannot be done and the best things to do. That is self promotion but I am smart enough not to take on all cases but to be honest rather than getting hopes up.
Flag Thu Nov 3, 2016
What is your mortgage person's contact info?
Flag Mon Jun 6, 2016
Hi Bryan…I thought your response was very helpful. It sounds like the lender you worked with was just amazing! My husband and I were looking for a lender. We are still in the preparation phase, but we want to buy a house around Sept./Oct of this year in Atlanta. I would love to know who you worked with and see if we connect. Thank you! -Martha
Flag Sun Apr 17, 2016
LOL, you make fun
Flag Thu Apr 14, 2016
stephen webb…, Agent, Kirkland, WA
Fri Jul 19, 2013
Hi Terry, Have an experienced ethical loan officer who works for a lender that offers all of the loan types look over your credit. Loan officers work with credit every day and have the incentive to improve the credit as soon as possible so are your best source for home loans. Wait and talk with one before you do anything with your credit. Its easy to do the wrong thing.I have witnessed experience loan officers in many many situations make simple recommedations and have a credit score up in no time. So the key is choosing the loan officer. Read, Consultation Interviewing Loan Officers at Your-Road-Home.com. Gather up all the information you can so you will not only have the right questions to ask the loan officer but will know the right answers. The loan officer and real estate person are critical choices for most people buying homes. Trulia is also a very good source of information and when you are prepared loan officers and real estate agents from your area offer their services on Trulia. A good source. Be sure to read article #9 about the MCC Tax Credit. The best tax credit ever.
Best of Luck, Stephen Webber Retired After 34 Years of Real Estate For First Time Home Buyers
Web Reference:  http://Your-Road-Home.com
9 votes
Isaiah Y., Agent, Rockford, IL
Thu Nov 3, 2016
Try contacting Home Loans For All. We've sent quite a few clients to them and they've been able to find some great programs out there including no money down. I'll include a link to them.


Best of luck!
Web Reference:  http://homeloansforall.com
6 votes
NACA Online…, , Charlotte, NC
Thu Apr 14, 2016
With the NACA Purchase Program, credit scores are not a factor whatsoever. Instead, we use a character-based lendng program, concentrating on your financial situation over the past two years.

In addition, the NACA program offers no down payment and no closing costs. You always start with a fixed, below market interest rate, which you can buy down to nearly zero and is a much more efficient use of funds instead of a traditional downpayment.

More information can be found and you can register for a NACA workshop at the website http://www.naca.com. NACA is a 28 year old, HUD-certified, non-profit home ownership and community advocacy organization.
5 votes
Fantastic, this was great knowledge. So many don't know about these special programs. I looked in this with the view, what's the catch. This is just great. Helping people with low rates and little requirement. Just the ability to pay. We all got caught up in the last recession, so time to get back on track.
Flag Thu Nov 3, 2016
Gregorio Den…, , San Diego, CA
Thu Mar 14, 2013
Chuck Says:

"HUD guidelines say 580."
----------

This is untrue. HUD says the minimum acceptable credit score with 10% down is 500 not 580. The second part about most lenders requiring a 620 may or may not be true but certainly the first part of the answer is false.

This forum should be about accuracy and it's a shame there isn't more of it so consumers have accurate information.

Reference: HUD 4155.1 4.A.1.c Determination of Credit Worthiness and Minimum Credit Score Requirements.
http://www.hud.gov/offices/adm/hudclips/handbooks/hsgh/4155.…
Web Reference:  http://WeFixRates.Com
5 votes
http://portal.hud.gov/hudportal/documents/huddoc?id=4155-1_4_secA.pdf

This should work. Looks like HUD changed some of their links as they updated information (since the original link is 3 years old).
Flag Fri Nov 4, 2016
The HUD link is not working ... could there be a typo?
Flag Thu Nov 3, 2016
The HUD link is not working ... could there be a typo?
Flag Thu Nov 3, 2016
Prosper Real…, Agent, Tucson, AZ
Thu Nov 3, 2016
Try Home Loans For All. We've referred many clients to them over the last year and they've been amazing for our clients (and our homes sold). They have a very big network of lenders they work with so essentially you can apply once and they allow you to shop around to multiple lenders at once. Then from there you can decide which lender and rate is best for you. Quite amazing actually.

Good luck to you.
4 votes
Sandra Matson, Home Buyer, New York, NY
Thu Nov 3, 2016
580 for an FHA loan with 3.5% down.
3 votes
Mrstrobinson…, Home Buyer, Snellville, GA
Thu Apr 14, 2016
The answer to the question above is 620
3 votes
Barbaracla40, Home Buyer, Linden, NJ
Thu Nov 3, 2016
I brought my home in 2015 the lowest credit score was 580 through FHA
2 votes
Sarah Tashji…, Agent, Richmond, VA
Thu Nov 3, 2016
There are many more factors to getting a loan than simply down payment and credit score. Of course, the better your score the better your situation will be! One of the best ways to increase credit score is to keep your balance below one third of your credit limit. Example: if your credit limit is $3000, do not put more than $1000 on your card. Pay it off before the balance gets to be about a third of the limit.

I am a Realtor in Richmond, VA. Please contact me with any questions regarding this area! Sarah.Tashjian@coldwellbanker.com
2 votes
Nbrown, Home Buyer, Queens, NY
Thu Apr 14, 2016
640 is the acceptable score for first time home buyers. when only putting 10% down you should know that you might just have a higher interest rate.
2 votes
Isaiah Y., Agent, Rockford, IL
Fri Nov 4, 2016
Try Mortgage Rates Fast. They're pretty good at getting people approved. I'll include a link to them. Hope that helps!
Web Reference:  http://mortgageratesfast.com
1 vote
Azekofi, Home Buyer, New York, NY
Thu Nov 3, 2016
NACA is the best solution if you are struggling with your credit score.
1 vote
Deborah Will…, Home Buyer, Southfield, MI
Thu Nov 3, 2016
What is the minimum credit score in buying a home
1 vote
David.simpers, Home Buyer, Houghton Lake, MI
Thu Nov 3, 2016
I wonder how many people with lower credit scores have 10% to put down on a new house.
1 vote
Nick Brous, Home Buyer, Los Angeles, CA
Wed Nov 9, 2016
First off, what no one ever explains until pressed is that your credit score varies considerably depending on the lending institution. I'm not talking about Transunion vs Equifax scores, etc, I'm saying that every bank has there own scoring system. So with Chase your credit score might be 650, and Wells Fargo it might be 610. It can vary as much as 100 points. Also, if they use FICO scores at all, which version of FICO are they using? I think there are 10 versions.

Also, do not trust the scores provided from these monthly credit monitoring services, they are not FICO scores and are complete fiction. According to Score Tracker, my credit score is 672; according to Wells Fargo at that same time, it was 585. No joke. I suggest not using these services at all, they are a scam in that they provide less information than what a bank sees and tend to create a a rosy picture of your credit that is not altogether accurate to entice you to sign up for their monthly service. If you need a service or some credit repair assistance and monitoring, I recommend Lexington Law. They are the market leader and get results because they persist and persist and don't give up.

My recommendation is to not worry about your credit score because you'll spin yourself into a tailwind trying to figure out who is using what. Your focus should be on cleaning up any negative items on your credit report. Period. Once that's done, your score will be fine. Also, suggest shopping around until you find a mortgage broker you like and who is willing to guide you through the process. That way you have someone in your corner who is working with you to get you approved for the best rate possible, given your circumstances.

Hope this helps and best wishes to you.
0 votes
Daniel Welch…, Agent, Venice, FL
Sun Nov 6, 2016
In my experience, and from advice from various local lenders, they generally like to see a 640 with a moderate debt to income ratio along with proof of income.
I would call around and get free quotes, if you know your credit score. It is a very competitive market, so the research can save you a ton of money in the end.
For reference, all of my advice is based on my experience in my local market. Always worth the time and effort to contact a professional in your area to seek local advice.
Best of luck and hope you find "The One"
0 votes
Ssilva70, Home Buyer, San Diego, CA
Sun Nov 6, 2016
I'm trying to buy a house next year, I owned a 1 /1 condo, it will be better if I do a short sale? And get that money for the new purchase??
0 votes
Lorretta Lon…, Both Buyer And Seller, New York, NY
Sun Nov 6, 2016
Score is 600 in Nj can find help with a small down payment
0 votes
M Cohen, Home Buyer, Troy, MI
Fri Nov 4, 2016
Different lenders have different criteria.
FHA allows scores as low as 580, but it is difficult to find a lender that will originate. Our company goes down to 580 for certain types of loans, but they are expensive
0 votes
Bill, Home Buyer, New York, NY
Fri Nov 4, 2016
I got it straight from a mortgage banker...740! Any score above 740 doesn't mean a thing! But you need 740 to get the best rates
0 votes
, Home Buyer, New York, NY
Fri Nov 4, 2016
620 was my score and 2 years out of BK. Then I bought my first home.
0 votes
Windessmt, Home Buyer, Savannah, GA
Fri Nov 4, 2016
Your score is only as good as the bank allow. But a safe start would be 650 and above.
0 votes
Idnotbelieve…, Home Buyer, Las Vegas, NV
Thu Nov 3, 2016
Lots of good answers here. I am not sure requiring a real estate agent to know this is relevant they are not in the lending business but they should have some clue from past failures.

The 550 is I suppose technically correct but it would have to be with a lender that has no intention of selling the mortgage because there is no market for scores that low until they have been paying for a full 2 years min even then it sell at a discount. Chances are nill because the Fed inspects banks lending and score that low would be considered a character loan and they are frowned upon

620 is absolute lowest

The exception to all of this is state and local government first time home buyer programs all they require is that you do not have bad credit so if you have never had a loan they are a good choice.
0 votes
Ivydiazny, Home Buyer, Mount Kisco, NY
Thu Nov 3, 2016
If you have long term employment an FHA loan will approve you with a minimum score of 580. They will also approve you with just 3.5% down payment. I know this because I just did the same for myself. Meet with a mortgage broker at your bank and ask about FHA loans. Good luck!
0 votes
Dreque1911.at, Home Buyer, Plainfield, NJ
Thu Nov 3, 2016
I filled for bankruptcy in 2010 and my credit score is 650 what are my chances of getting a loan. I have 8500-10,000 to put down.
0 votes
Gordon, , Honolulu, HI
Thu Nov 3, 2016
740 credit score and over is good...the more you put down the better. Can go down with 3.5 percent but higher PMI and larger monthly payments required. Buy before you retire with a fixed income. Hawaii Standards
0 votes
Lrmcgowan, Home Buyer, Federal Way, WA
Thu Nov 3, 2016
Some Lenders will go as Low as 550. In my area Most Lenders do not go below 620. USDA loans require a minimum of 640 and other loan programs require your credit at a certain rate. Your best bet, if youre trying to buy a house with a 550 credit score, is to be prepared to have a sizable down payment.
0 votes
Ceegodbless, Home Buyer, Melbourne, FL
Thu Nov 3, 2016
i have no down an my score is 527
0 votes
Kathleenpana…, Home Buyer, Memphis, TN
Thu Nov 3, 2016
Avoid Well's Fargo! I was a victim of their predatory lending practices. If I had stayed with them I would have lost my house. Fortunately, I located another mortgage company and because they were able to lower my monthly payment I was able to save my house. My point is interview more than one mortgage company.
0 votes
Mary Stone, Home Buyer, Seattle, WA
Thu Nov 3, 2016
Someone asked about co-borrowers, they will take the lower of the two peoples scores as the credit score basis for pricing the loan. They tier I think every 15 or 20 points and my lender took the middle score of the 3 credit reporting agencies for the basis. Lots of factors effect the price(interest rate) of the loan such as down payment and/or loan to value & income needs to be super solid of course. I am a big proponent of home ownership but if your loan costs are too high due to low scores, it may be best to wait until you can improve your score. One way that parents(or anyone) can help an young adult's score is to add their name to an credit card they have held for a while. On caveat is that if you do that, you need to keep the balance on that card low or it could hurt their credit since their available credit will be much less than the parent who has a mortgage, ect. I bought a home with my adult son, he is owner occupant but needed my income to qualify for the loan and I am on title, it was complicated and took long time but we are finally closing with a good interest rate.
0 votes
Woggyboy1, Home Buyer, Deltona, FL
Thu Nov 3, 2016
I have about a 750 fico but we are working with NACA and they dont go by your fico they go by your history and find you a lender and help with down payment and closing I highly suggest you try them they are a community outreach group and can be found online for their workshops tell them I sent you
Brian Thompson Sr Newark DE
0 votes
Brian, I am looking to relocate to Millsboro DE from Montana. What kind of lenders or mortgage companies are out there? The realtor I am working with said she has her own gal, but I am hesitant to put all my eggs in her basket.
Flag Thu Nov 3, 2016
Sam Irvine, Home Buyer, Altamonte Springs, FL
Thu Nov 3, 2016
I am an agent and this a broad question to answer, but here ya go. First of all most of these lenders are restricted because of the amount of people who got qualified back in 2007 when the foreclosure rate hit the ceiling and the government ending up paying billions for bail outs which crashed the economy. Today the lenders have to have some restrictions that include having a steady job for 2 years at the same employer or the same profession and close to the same salary if job changed. Next it depends on the lender for your credit score, but the general score from lenders I've worked with like to have 620 and up. But. that means the lower your score the higher the rate, beware. Lenders also will use a yield ratio for you income and expenses average per month. There is no correct scenario, it all depends on the risk the lender is willing to take, so hence some require more for lower rate and some will at a higher rate, and some won't take the risk at all. You just have to shop around.
0 votes
Dbeyondo63, Home Buyer, Trenton, NJ
Thu Nov 3, 2016
I am not a broker nor do I work for a mortgage company...I'm just your average person who came upon this question. I have bought and sold 5 houses in a period of 25 years...all of them being my primary home not a vacation or investment.

What I have found is that your best bet is to go with a bank not a mortgage company or broker. These type of companies will charge you some type of fees...whether they say they will or not, they absolutely will.

With banks they charge you the interest rate, closing costs (which you should look at carefully) and points if you choose to add this cost to your mortgage which will "buy down" your interest rate (i.e. you're buying a $200,000 home and their rate may be 4%, but you can pay "points" to buy down your interest rate such as: pay 1 point to lower your rate by 1/4%, which is 1% of the mortgage amount of $200,000 so your point cost would be $2,000 and your rate now would be 3.75%). I don't know if this helps but you can ask the bank to explain it better if I haven't.

Another option is to join a credit union. If you or a family member have been in the military, they can join a credit union (i.e. Navy Federal Credit Union) and then they can get you a membership. If no one has, there are other credit unions you can join, such as Police and Fire Credit Union, that accepts (almost) everyone as a member.

I hope I have helped in some way :)
0 votes
Richard Bedr…, Home Buyer, Cape Coral, FL
Thu Nov 3, 2016
if i give 10,000 down on a 20,000 home and have a 621 score could i buy that home
0 votes
Do you mean $200,000?
Flag Thu Nov 3, 2016
Alex Walker, Home Buyer, Port Saint Lucie, FL
Thu Nov 3, 2016
In January I got an FHA loan on a single family home in FL when I was 63 and had just retired. I'd qualified for up to $160K but bought a house at $150K with $10K down. FICO then was about 675 and I was 2.5 years out of bankruptcy.

The BIG thing to qualifying is having no other debt, especially car loans or credit cards, more than the FICO score. Also, you can't buy a condo without the HOA/COA fees counting the same against you as if it was a car loan or credit card debt. For that reason, I was able to buy up to a $160K single family home, yet I could not buy a $100K condo!
0 votes
ddneenee, , Raleigh, NC
Thu Nov 3, 2016
The minimum score is 620.
0 votes
Raymond.roque, Home Buyer, New York, NY
Thu Nov 3, 2016
In Massachusetts the minimum is 640 regardless of the down payment
0 votes
Sultana.7bd, Home Buyer, New York, NY
Thu Nov 3, 2016
I don't know . May be 750.
0 votes
Nyemavic, Home Buyer, New York, NY
Thu Nov 3, 2016
If you ever need to buy a home with 0 down payment and 0 closing cost. I would say look up NACA. Com. You will never regret it.
0 votes
Tenn8888, Home Buyer, New York, NY
Thu Nov 3, 2016
620 to 640 regardless of the percent down.
0 votes
Jillianmaure…, Home Buyer, Chandler, AZ
Thu Nov 3, 2016
The minimum credit score needed will vary depending on your particular situation, i.e. how much will you put down, whether are you looking for down payment assistance, etc. Your best bet is to contact a realtor and / or lender to discuss your particular goals and needs.

Our company specializes in getting home buyers into a position to qualify for a mortgage. Please contact us if you would like to discuss how we can help. elementarycreditrepair.com
0 votes
Rosalindrich…, Home Buyer, New York, NY
Thu Nov 3, 2016
What the minimum credit score to buy a house
0 votes
Roland Pierre, Renter, 32818
Thu Nov 3, 2016
What is a minimum acceptable credit score for a first time home buyer with 20% down for a $200,000 home?
0 votes
Roland Pierre, Renter, 32818
Thu Nov 3, 2016
What is a minimum acceptable credit score for a first time home buyer with 20% down for a $200,000 home?
0 votes
Jessica Free…, Home Buyer, West New York, NJ
Thu Nov 3, 2016
New Jersey what is a credit score with a F.H.A loan
0 votes
Tracy Delgado, , North Providence, RI
Thu Nov 3, 2016
I live in Rhode Island where taxes are high and jobs are scarce. What is the credit score needed to buy a home? Sick of paying someone else's
0 votes
Carlosmunoz46, Home Buyer, New York, NY
Thu Nov 3, 2016
I have A rent to own deal been living in it for five years and four months with the $10,000 down and I need to get a loan on this house my name is Maria Munoz I need somebody to help me thank you so much god bless
0 votes
AJ Hernandez, Mortgage Broker Or Lender, Hialeah, FL
Thu Nov 3, 2016
It depends on the loan program however it is possible to get an FHA loan with as little as a 550 credit however there are many other factors to consider. I typically recommend clients aim for a 620-640 depending on their situation. I currently only offer loans in Florida so I suggest you speak to someone who offers loans in your area. God Bless Psalm 20:4
0 votes
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