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Credit Score in Georgia : Real Estate Advice

  • All440
  • Local Info36
  • Home Buying235
  • Home Selling43
  • Market Conditions9

Activity 85
Tue Nov 7, 2017
Frank S. answered:
Hello Natalie, VA or CalVet are not fico score driven loan programs although most lenders have their own overlays and guidelines and minimum 640 fico score requirements. We have banks that go down to 500 fico score. Check out Under 640 Fico Score Loans .com

You will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You will need to gather some documentation like your DD214, certificate of eligibility, VA disability awards letter, etc. to provide for a pre-approval letter.

We can look at your credit reports and advise you with a game plan. Your scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.
How much is the maximum payment you are trying to achieve?

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores and loan program. Although VA or CalVet are zero down payment programs there are costs such as closing costs, appraisal costs, credit reports and an earnest money deposit.

The purchase in Madison start from 159k for 2bd 2ba single family home although there is a new build for 3bd 2ba single family home from 144k.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment you are looking to achieve you can be emailed listings to fit your search criteria. Sheryl is a veteran and loves to assist veterans so check out the web reference link below...
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Mon Nov 6, 2017
Frank S. answered:
Hello Tonyangelopublic, it depends on many factors. You consider 3.5% down FHA with a minimum 580 fico score and 3% down conventional from a minimum 620 fico score. If you have lower scores between 500-579 you would need 10% down to consider FHA.

Do you have copies of all three bureaus as we will go by the middle score of all three scores. How much do you pay in rent and what is the maximum payment you are looking to afford?

If you figure out what cities/zip codes you are considering, minimum number of bedroom and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria.

You will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You will need to gather some documentation to provide for a pre-approval letter. Check out the web reference link below...
... more
0 votes 1 answer Share Flag
Fri Oct 6, 2017
Seanv1223 answered:
Talk to a realtor and see what your options are. If you need help with your credit you can always use a company like select us but I think they only work with people buying. See what a realtor says because they deal with this all day. ... more
14 votes 2 answers Share Flag
Fri Oct 6, 2017
Seanv1223 answered:
Its possible. I was in a similar spot but I ended up increasing my credit so I didn't have to put down as much. The person from select us that helped me referred me to a couple different bankers who gave me options like putting down 15% but it was cheaper to just get the score above a 600 and put down 5%. Give them a call and they can refer you to someone to give you a loan or build up your credit. ... more
9 votes 6 answers Share Flag
Mon Oct 2, 2017
Prosper Realty answered:
We've been sending our credit-challenged clients to Home Loans For All for a couple years now with pretty good success. That's where I'd start if you have bumps and bruises on your credit. We also send our clients with great credit to them as well. I'll include a link to them below.


Best of luck to you.
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0 votes 18 answers Share Flag
Wed Jun 14, 2017
Clarissa Lewis asked:
We are relocating, I am in the process of working on my credit, I am below 500, we just had a baby and I was out of work with no pay! My husband is over 600. We did an application and they…
0 votes 0 Answers Share Flag
Fri May 26, 2017
Sfamilyvacation asked:
Tue Apr 18, 2017
Eric W Vander Werff answered:
Yes, it is possible to be pre qualified for a home loan with what you described. There are a few more moving parts to consider. I would recommend getting with a loan officer to go over all your details and see where you stand. We lend down to 580 in all 50 states. Happy to help if you need direct guidance. ... more
0 votes 2 answers Share Flag
Fri Mar 17, 2017
Monica Wilson asked:
My score is low because i haven't built it not because im in dept or owe anyone.... Where can i look for no credit/bad credit property's?
0 votes 0 Answers Share Flag
Wed Mar 1, 2017
answered:
http://www.fhamortgageprograms.com/georgia-fha-mortgage-lenders/
If he has 3 lines of utility bills, cell phone, gas, electric, cable for 12 months and a zero score then he can go through the FHA no credit score home loan. He will have to put 3.5% down and may not qualify for down payment assistance.
If he doesn't have that then he needs to rent for a year and open 3 lines of credit (secured or unsecured).
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0 votes 7 answers Share Flag
Thu Feb 23, 2017
answered:
Hello, I'm a mortgage professional.

You do not need a high credit score to qualify for a mortgage. If you have a 580 score I can help you get an FHA mortgage. You would only need 3.5% down payment and you can even roll closing costs into the loan using a sellers concession.

I can lend nationwide and I'm avialable almost 24/7.

If you have any questions or would like help with this you are welcome to contact me.
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0 votes 2 answers Share Flag
Mon Sep 26, 2016
Solomon Greene answered:
Hi Ms. Brown

Please have a look at the article at the link below. You may be able to find something in a rent-to-own arrangement with no obligation to buy much closer into Cobb County than you originally thought. Would love the opportunity to speak with you about it.

Thanks
Solomon Greene
678-775-2677
... more
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