Asked by crow5716, Streetsboro, OH • Mon Sep 2, 2013
My fiance and I are trying to buy our first house. We were pre-approved and found our dream home after 2 years of searching. When we put an offer in it was accepted but our pre-approval expired and we needed to get pre-approved again and in that time frame my fiance paid a bill over 30 days late and her credit score dropped to a 590.
The lender we were using said she needs to get it back up to a 680 before he can do anything. Her score is at a 643 now. Mine is a 721. We are both going to need to be on the loan because we need both incomes. We needed to be pre-approved again in the $140k range.
This house we are going for needs to be a conventional loan. An FHA will never work on it.
So my question is can anyone get us a conventional loan with 5% down using a credit score of 643 and 721. Her score might jump up a few more points over the next week or so. Might be closer to a 650 or 660
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