1stx homebuyers. Fico 652. Can we get a mortgage? we're moving to the area. He has been at his job in FL for 5 years & has a new job in NC. same trade

Asked by kellann555, Charlotte, NC Fri Sep 13, 2013

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Linda Ciruln…, Agent, Charlotte, NC
Fri Sep 13, 2013
Hi, yes I believe you can qualify, but depends on a few more things. I f you want I get you in contact with a MTG specialist. Would love to help you find your new home here if you don't have an agent already. Give me a call.

Linda Cirulnick
Keller Williams Southpark
1 vote
Stephanie Bl…, Agent, Charlotte, NC
Fri Sep 13, 2013
Obtaining a mortgage is dependent on many factors, not just credit score. All lenders worth their salt will provide a free pre-qualification without a cost associated and will help you to understand what loan products best fit your situation. You should interview mortgage professionals to find one that suits you, not just the first one out there. One other important thing a mortgage pre-qual can tell you is not only IF you qualify, but for how much you can qualify for. One of the most heartbreaking things as a buyer is to fall in love with a home only to later find out that you can't qualify for that high of a mortgage. If you would like some further information or some assistance with finding quality lenders in the NC area, contact me at 704-759-6168. Good luck!!

Stephanie Blackburn, REALTOR
1 vote
, ,
Fri Sep 13, 2013
While credit score alone isn't a qualifier or a dis-qualifier, you certainly need to reach out to a trusted mortgage loan originator.

The type of loan you would be eligible for depends upon your income and employment stability. If your relocating as part of a job transfer then you will be able to demonstrate continuity of employment and income which make your down payment and loan options better, in my opinion.

Other factors to consider are your current Debt to Income Ratio as well.

I am licensed to originate loans anywhere in NC and you can compare rates and fees as well as apply securely online at my website below. Feel free to give me a call as well.

Welcome to NC!
1 vote
Debbie and S…, Agent, Charlotte, NC
Fri Sep 13, 2013
Yes, you can definitely qualify for a home with a score of 652, they would also look at your other debt to income ratios. Please give me a call. I love helping first time buyers! 704-443-8627 or visit our website http://www.propertiesincharlotte.com.

Debbie Arriero
Serving the Charlotte area since 1990
Licensed in North & South Carolina

Arriero Realty, Inc.
P.O. Box 77283
Charlotte, NC 28271
Office: 704-443-8627
Fax: 704-321-2403
1 vote
Frank Coxx, Agent, Indian Trail, NC
Fri Sep 13, 2013
Yes you can get a mortgage and could also get down payment assistance if needed
1 vote
Jeff Monfils, Agent, Mount Holly, NC
Fri Sep 13, 2013
I can get you in touch with her. Here is my number if you want to see what options you may have 7048757616. :- )
1 vote
Chris Cunnin…, Agent, Charlotte, NC
Fri Sep 13, 2013
Kellann555. It sounds promising. Please call me to discuss this further along with where you would like to live.

Chris Cunningham NC/SC
1 vote
Jeff Monfils, Agent, Mount Holly, NC
Fri Sep 13, 2013
Yes in fact you can! I have a mortgage lender who can go down to 650
1 vote
Marc D'Angelo…, , Roswell, GA
Wed Jan 15, 2014
Yes You may even qualify for Federal Down Payment Assistance. Give me a call I am available 7 days a week.

Marc D’Angelo
Mortgage Banker
678.442.3405 Office
678.985.6834 Fax
404.925.8291 Cell
apply online: mdangelo.brandmortgage.com

50 Chastain Center Blvd. | Kennesaw, GA 30144
NMLS# 75615 | 658834
0 votes
Josh Barnett, Agent, Carney, OK
Fri Sep 13, 2013
Visit with a local lender where you are moving to and go over your question.
0 votes
Daniel Fisher, Agent, Charlotte, NC
Fri Sep 13, 2013
Good morning, Kellann:
You may want to read the Trulia Real Estate blog "I have bad credit and no savings. Can I get a home or am I stuck renting?" if you meet that criteria, and your income here is properly documented. you will probably be able to get a loan. If you have a full time agent with a Masters degree in Planning with Finance and over two decades of experience, working for you, you will likely do better in negotiations. I'd be pleased to provide that service. If you appreciate this answer, please give it a thumbs up, or if this was the most helpful answer, please say thanks with a best answer click.
0 votes
John Siddons…, Agent, Charlotte, NC
Fri Sep 13, 2013
You should definitely qualify!

Email me directly and I'll help you with your relocation!

John Siddons
0 votes
Kandace Stone, Agent, Charlotte, NC
Fri Sep 13, 2013

Based on your score, there are many programs that you will have the opportunity to qualify for. My suggestion would be to speak with a loan officer and have them qualify you, not based on your score, but what is on your report. This will give you a better idea of how soon you will be able to purchase your new home! :)

Feel free to contact me with any questions.

Kandace Stone
Real Estate Consultant
0 votes
William Lowe…, Agent, Charlotte, NC
Fri Sep 13, 2013
There are a number of loan programs you can qualify for with a 652 Fico score. I am not certain how you arrived at this score but I have seen a mortgage loan officers pull credit and it some times differ from the score the borrower pulled. In most cases it has been a higher score I would like to add. However what I have heard from most lenders is loan approvals are based more on the the borrowers credit profile not just the FICO score. The credit score plays a significant role however it is only one part of a number of other determining factors.

If you would really like to know what your options are contact Dwight Crawford or Trina Hay
both have more than 25 years in the business and neither will charge you a dime to answer questions and both will give it to straight.

Trina Hay Senior Loan Officer

Dwight Crawford Senior Loan Officer
0 votes
, ,
Fri Sep 13, 2013
Being in the same trade is a strong compensating factor.

Definitely worth pursuing. A closing can't be completed until you have evidence of 30 day income hx which depending upon the company payroll system could take 45 - 60 days from the start of employment.

Plus, your VOE (Verification of Employment) that is completed by your employer must not reflect any so called "probationary period" of employment which some employers do enforce. There's a question on the VOE requesting the employer to document the Probability of Continued employment which is critical.

Good Luck and let me know if i can help you get that loan!
0 votes
dave, Agent, Charlotte, NC
Fri Sep 13, 2013

Based on credit score you can get approved for a mortgage. But there are other variables that will factor in like what is on your credit report and is the job with a new company you may need a letter form the company for income. But generally based on what you have said you should be able to get approved for mortgage.

I can recommend a very good lender that will give you a straight answer. His name is Chris Ayer and his cell number is 704-771-3954 and his e-mail address is chris.ayer@mortgagefamily.com.

Dave diCecco
Coldwell Banker United
0 votes
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