Getting a mortgage with a 647 credit score:

Asked by Andi, New York, NY Mon Nov 10, 2008

Hi everyone,

I have found an apartment in Harlem that I want to buy. Is 150.000 and I love it, I have the money to make a down payment but here's the problem:
1. My credit score is 647; and
2. I only make $40.000; and
3. I have a 40.000 student loan which is in defferement till 2011.

Any ideas?

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Andrea Gomez, Other Pro, San Antonio, TX
Fri Aug 16, 2013
Yes you can get approved with a 647! You probably don't need to get your scores up anymore. I have had a lot of my clients with 580-600 scores approved for a home loan with The Lenders Network, not bad rates either.
0 votes
Randall Sand…, Agent, Charleston, SC
Fri Dec 12, 2008
Hi Andi - Definitely talk to a lender who is experienced in FHA loans...they are much more flexible with credit score. You will need to have 3.5% of the sales amount for the down payment but can have the seller pay all the closing costs and some other items. You may want to check out as they do great work and I believe they lend in New York.

Let me know if I can provide you with any other info,

Randall Sandin
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Voices Member, , Benton County, OR
Fri Dec 12, 2008
Andi, have you tried going to the Hud site...

It will give some information on loan qualifications and calculators to get a general idea of loan amounts you could qualify for. It's a good place to get an idea of what to expect.

Good luck, Dunes
0 votes
J Douglas Mo…, Agent, Douglaston, NY
Fri Dec 12, 2008

Try Sharon Starke with Continental Home Loans. She is a great FHA focused lender, and will help you as best she can. Reach her at her office at 800-540-8838, x4148 or on her cell at 516-769-4622. Best of luck

Douglas Montgomery
HomeNY Corp.
0 votes
Gail Gladsto…, Agent, 11743, NY
Mon Nov 10, 2008
If you contact me off line at, I will be happy to refer you to the one person I know who will make it happen if it can happen and if it is not possiblee, will help you get to the point you will need to make it happen.
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