Is good credit needed to get the house?

Asked by sega1bibi2, Santa Clarita, CA Sat May 4, 2013

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Tue May 7, 2013
I help people with bad credit all of the time buy houses. The best ways are either to clean up the credit, or just find a loan program that works. It does depend on what is wrong with your credit too.
1 vote
Alex Meguerd…, Agent, Valencia, CA
Mon May 6, 2013
My advice for you would be to go speak with a mortgage lender or broker, they are going to know the best product or package that will fit your particular situation in order to get you qualified for a loan. I recommend Marcy James with GEM Mortgage or Mike Meena with Agusta Financial! They are fantastic lenders with tons of experience, or you can shop around and see who fits you best! Good luck and if you need any help selling or purchasing a home feel free to give me a call or email! Have a great week!

Best Regards,
Alex Meguerditchian
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nice! :)
Flag Mon May 13, 2013
Realty One G…, Agent, Santa Clarita, CA
Mon May 6, 2013
Yes, good or at least good enough credit is usually required. You can also try anowner will carry. Thats where the seller owns the property and is willing to carry the note for you instead of a bank. I ahev twoof these available in Santa Clarita. Caontact me if you would like to know more.

Rich Szerman
Silver Creek Realty
0 votes
Robert Spino…, Mortgage Broker Or Lender, Mill Valley, CA
Sun May 5, 2013
Good credit certainly does not hurt when you're attempting to get mortgage financing. I talk quite a bit about credit scores and what constitutes them in my free webinar. The next one is Tuesday, May 7 at 4pm. Think about joining us!
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Ruth and Per…, Agent, Los Gatos, CA
Sat May 4, 2013
Hi Sega:

You need a loan to get a home.

Good credit is 720 and above, but loans can be had with scores around 580 also.

Of course if you have a higher down it will help.

Talk to a lender, have you done so ?

0 votes
Tony Lewis, Agent, Valencia, CA
Sat May 4, 2013
Good Credit is need to qualify for a loan unless you are buying all cash. There are FHA Loans that allow lower credit scores but getting an offer through with these loans has proven to be fruitless. Most homes in Santa Clarita, especially those priced right, are receiving many offers within hours of reaching the market. Many sellers are only accepting offers with Conventional Loans and large cash reserves. They are also asking to have the appraisal contingency removed from the offer. Give me a call to discuss selling or buying a home in the Santa Clarita Valley!

Tony Lewis * RE/MAX of Valencia 661-510-7975
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Randall Ortiz, Agent, Sacramento, CA
Sat May 4, 2013
If you are interested in buying a home, you should definitely speak with a mortgage broker and get pre-approved so you know exactly where you stand and what you can buy. Let me know if you want me to put you in contact with one.
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allan erps,A…, Agent, Pearl River, NY
Sat May 4, 2013
Banks & Lenders give Mortgages to credit worthy people...
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Cindy Davis, Agent, San Diego, CA
Sat May 4, 2013
Generally speaking, good credit is needed to buy or rent a home. I echo my colleague's sentiments. You need to speak with a mortgage broker or bank about whether you qualify for a mortgage.

Good luck.
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