Home Buying in Houston>Question Details

Kelly Langley, Home Buyer in Corpus Christi, TX

Looking for lender: credit scores 570 & 780. Combined income is about 100K/yr. Can we be financed?

Asked by Kelly Langley, Corpus Christi, TX Fri Jul 12, 2013

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14
Minimum score is 580 for FHA so you're close. Check out The Lenders Network, they have lenders that can help you out.
2 votes Thank Flag Link Sat Jul 18, 2015
Kelley, I will like to call you or email you yes you can get financing....832.919.2097
thanks!
0 votes Thank Flag Link Sat Jul 18, 2015
Need help buying a home were a family of 3 and have a low score 6:08 I could afford a payment of $500 a month I have 5000 dollars down payment my phone number is 3613 36 4517 my name is Ramiro Lazo
0 votes Thank Flag Link Fri Jul 3, 2015
Possibly.... sit down and talk with a lender to evaluate your credit. One of your scores may need to be boosted, or they may not even allow them on the loan. If the one with the 780 score can afford the loan alone, they may allow it, but with just that particular person.

Speak with a lender
0 votes Thank Flag Link Sat Jul 13, 2013
Hello Kelly,

I am a licensed mortgage originator as well as a Realtor. There are many variables that might apply to your situation, so you really just need to visit with a lender. Also, you might be surprised at how easily you can bring up the lower score. I would be happy to speak directly with you.

Arnold Richie, Realtor®
Terry Burnaman Realtors
arnold@yournexthomehouston.com
http://www.yournexthomehouston.com
713-396-2017 281-788-8962
0 votes Thank Flag Link Sat Jul 13, 2013
All lenders use the lowest middle score of the two borrowers on the loan. If the individual withe the 780 credit score has enough income to support the purchase you would be much better off doing that route. If not you really need to work on the credit aspect. While I work with some lenders that will go as low as a 580 credit score those terms are not nearly as good as if you can get up to a 600 or even a 640.

I would find a lender to see what options you have and who will work with you to get your credit in order. If you need the income of the 570 borrower you will need to wait and work their credit.

Hope this helps.

_____________________________________________________
Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
Web Reference: http://www.AustinListed.com
0 votes Thank Flag Link Fri Jul 12, 2013
I direct my clients to Todd Bessegato. His phone # is 713-744-1223. Great guy, even better business partner.
0 votes Thank Flag Link Fri Jul 12, 2013
Most likely, yes, as long as the person with the better credit score also has good income. Please call me at 713-890-9108. Thank you.
0 votes Thank Flag Link Fri Jul 12, 2013
I have a lender that works with low credit scores. Please give me a call at 281-905-2414 or shoot me an email alan@713realestate.com.

Alan Harper, REALTOR
World Wide Realty
281-905-2414

http://www.713realestate.com
0 votes Thank Flag Link Fri Jul 12, 2013
I have a lender that works with low credit scores. Please give me a call at 281-905-2414 or shoot me an email alan@713realestate.com.

Alan Harper, REALTOR
World Wide Realty
281-905-2414

http://www.713realestate.com
0 votes Thank Flag Link Fri Jul 12, 2013
Credit scores are a big part of the picture. There are many criteria that are used by the lending companies though. As a realtor I can not say whether you can be financed or not. What I can do is provide you a list of high quality lending professionals that can look at your individual situation. From there they can help to tailor a plan for you to purchase a property that fits your needs. Feel free to contact me and I will be happy to connect you with some fantastic professionals that will work hard for you.

Sincerely,

Bradley Mitten
REMAX REALTY CENTER
bmitten@remax.net
281-777-2100
0 votes Thank Flag Link Fri Jul 12, 2013
Kelly ...

Obviously, the 570 FICO score will work against you ... perhaps the individual with the 780 score can qualify on his/her own.

But there's much more to it ... cash on hand, employment history, debt ratio, etc.

My lender of choice is Brad Richards at Network Funding ... (832) 584-3531, brad.richards@nflp.com. Please let him know that I referred you ... nothing in it for me, but you'll know right away where you stand.

Best of luck ... if I can help in any other way, by all means get in touch.

Al Geffon
(713) 213-6350
al@geffon.net
Web Reference: http://www.har.com/algeffon
0 votes Thank Flag Link Fri Jul 12, 2013
This is an impossible question to answer based on the information we have so far. Other than "hard money," I don't know of any lender going down to 570 these days. So I doubt we could use that person's income. The 780 is terrific, of course. I suggest you have your Realtor refer you to an experienced and local loan officer for a personal analysis of your situation. Raising the score from 570 might not be as hard as you think.
Good luck!

Barbara Coker
NMLS#228545
Licensed Mortgage Loan Officer
100% Home Loans All Over Texas!
Web Reference: http://www.thecokerteam.com
0 votes Thank Flag Link Fri Jul 12, 2013
While you should check with a mortgage professional, I believe you should be ok, especially if you go with an FHA loan.
0 votes Thank Flag Link Fri Jul 12, 2013
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