I am immigrant,I Have a very short Credit history about a year,Credit score 675,income 45k, Fist time home buyer, Any chances for loan (175k)

Asked by home buyer, 60611 Tue Mar 30, 2010

Will put down 10%

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Michael Cline, , Chicago, IL
Wed Mar 31, 2010
It depends on what type of accounts are on your credit report. Just having a score above 620 does not guarantee a loan approval. I agree with Bradley... go see a trusted loan officer, have them pull your credit & do a FULL review including income & down payment. That is the only way you'll know for sure.

Realtors want to know the pre-approval was done properly and everything was reviewed before they start showing you houses on a Sunday afternoon. Good luck!

Michael Cline
0 votes
Bradley Egge…, Mortgage Broker Or Lender, Oakbrook Terrace, IL
Wed Mar 31, 2010
You ought to contact a lender to take a look at your credit report. Every lender has different requirements on length of credit history. Some require at least one account with 24 months history. Some lenders want at least three accounts with 12 months history. And some lenders just want three scores. In any case, the only way to know for sure is to get a full pre-approval done. You will want to find someone that does a full and detailed pre-approval. That being said, based on the information you have provided, I don't see why you couldn't get a loan. Feel free to check out my CEO's blog. He has a good article on credit scores at http://www.richardhartian.com

Call me if you want to get pre-approved.

Bradley Eggers
Senior Loan Originator
Ardain Mortgage
847-744-0168 (cell)
847-963-1000 (office)
Web Reference:  http://www.bradleyeggers.com
0 votes
Matt Bukovy, Mortgage Broker Or Lender, Chicago, IL
Wed Mar 31, 2010
Yes. As long as you're a legal resident, from what you've said so far, I see no reason why you cannot.

Please contact me to get pre-approved.

Matt Bukovy
Wintrust Mortgage
0 votes
Jeff Nobleza, Agent, Chicago, IL
Tue Mar 30, 2010
Yes, but the only one that can tell you is a lender. I suggest you go to your local bank and apply for a home loan and see what they say. Otherwise, I suggest you call Michael Poland of Key Financial at 773 697 5555.
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