California home loan needed my credit score 590 to 600 my husbands over 780

Asked by Krystelmedeiros, Vista, CA Tue Oct 9, 2012

Hello, my credit score is between 590 and 615 and my husbands is over 780 we are looking for a home loan for around 200k or lower. We have about 10k in the bank, is there any agencies that will give us a loan? Or is there a way to put the loan in my husbands name but also use my income to qualify us as I make the majority of our income? Please help looking to buy hopefully within 2 months

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Jessica Bate…, Agent, Beverly Hills, CA
Tue Jul 23, 2013
You can get an FHA loan with under a 600 middle score with some lending institutions but not many. I would recommend finding a broker or service to help you locate a reputable lender that can approve your loan at a decent rate. I have client's who have got approved and received a good rate at The Lenders Network with FHA and VA home loans. If anyone can find you a loan they can!
2 votes
Thanks Jessica!
Flag Mon Oct 28, 2013
Niradia Demm…, Agent, Ontario, CA
Mon Jul 15, 2013
Lets get you started! My contact information is below! :)

My reviews:

Niradia Demmings
323 2097677
0 votes
Catherine M.…, Agent, Hesperia, CA
Tue Oct 9, 2012
You can call Andrew anytime and once approved I would be able to assist you In finding the right home licensed since 1999 and at shear I am part of a team so you would never have a problem seeing homes when we make appointments for you
Catherine Haney
Broker Associate DRE #01461878
0 votes
Krystelmedei…, Home Buyer, Vista, CA
Tue Oct 9, 2012
Thank you everyone this is what we are looking for. At least 3 bedroom 2 bathroom, over 1500 sq.ft. Would really like a pool or to live close to spring valley lake.. We are open to living down the hill as well like Fontana, rancho etc. I don't know my midrange score as we have not run it since last year. Looking for a large kitchen with center island if possible I'm in class but am available after 8pm tonight to talk thank you again
0 votes
Andrew Andre…, , Victorville, CA
Tue Oct 9, 2012
You typically have 3 scores and most companies including us use the middle score. Our guidelines state that we require a minimum 600 middle score. We may be able to do a loan for you. Do you know your other score?

You may elect to have your husband purchase and not go on the loan. That is an option but if you do not go on the loan your income probably cannot be used to qualify. I am sorry. It sounds like you have options that need to be explored and explained carefully. Please do not think there is no possibility that you cannot go on the loan. I would like to speak to you so that you receive all the information necessary to make good decisions. It sounds like you have the funds, the time, and the income but just need to properly put the puzzle together.
0 votes
Tina Lam, Agent, San Jose, CA
Tue Oct 9, 2012

While you may be able to qualify for an FHA loan under your husband's credit, you would still need a bit more money saved up before trying to buy. An FHA loan has a very low downpayment required, but even at 3.5% of the purchase price, you're still looking at $7-8K for that price range. Once you add in closing costs of around $3-5K for both the financing and the escrow, you're running short. To be prudent, you should save at least $20K to be in a good position to buy and have enough in reserves to cover your moving costs.
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0 votes
Sinead McAll…, Agent, Oceanside, CA
Tue Oct 9, 2012
Are you looking to buy in Vista or Victorville? I work in Oceanside and can recommend a great loan officer that can assist you.

Sinead McAllister
McAllister Homes Real Estate
0 votes
Catherine M.…, Agent, Hesperia, CA
Tue Oct 9, 2012
Yes ca Andrew adresan from mortgage solutions at 7605592423 direct lender can qualify you today
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