My credit is 530. I own my home. I want to sell and buy a new home. If I sell my home would that qualify me a new home?

Asked by Brownstaycee, Hyattsville, MD Tue Jun 24, 2014

Help the community by answering this question:

+ web reference
Web reference:


Philip J. Cu…, Agent, Feasterville, PA
Thu Jul 17, 2014
Please call me I believe in meeting with Clients in person to discuss their needs and what would to help you qualify for a mortgage with a mortgage company and or bank. Are you aware that the City of Philadelphia has free credit and financial help available at no cost to you call me for the phone number. 267-934-1971
Philip J. Cunningham Sr
Market Force Realty
801 W. Street Rd suite 7
Feasterville, PA 19053
267-934-1971 (cell)
0 votes
Larry Cheife…, Home Buyer, Philadelphia, PA
Wed Jul 16, 2014
It's possible, but it depends on other factors. Income? Assets? Payment history, and so on. The FICO score is low, I'd be asking why and see if we can repair the credit before proceeding too quickly.

It's a very simple process and Wells Fargo is one of the top FHA lenders in the country and we'd be happy to connect you with a local loan officer to meet your needs

Larry Cheifetz
Private Mortgage Banking Supervisor
Wells Fargo
123 S Broad Street
5th Floor
Philadelphia PA 19103
NMLS #848298
0 votes
Bill Rich, Mortgage Broker Or Lender, Mount Laurel, NJ
Wed Jul 16, 2014
FHA will allow you the opportunity to buy a home with a 530 FICO but without knowing the nuances of your particular credit profile it is difficult to say for sure. The down payment requirement would be at minimum 10% as that the is FHA guideline. Please feel free to call me and I can walk you through an application.

Bill Rich
Mortgage Loan Originator
NMLS# 203704
700 East Gate Drive, Suite 400
Mount Laurel, NJ 08054
Office:866-312-6682 Ext:4234
Ph: 856-437-8029
Fx: 866-640-0198
0 votes
Sandra Hazel…, Agent, Philadelphia, PA
Tue Jun 24, 2014
I would be happy to refer you to someone you can talk to about improving your credit, my company has the Trident Group in house and can work with you to get you approved for a mortgage. While I don't know the exact answer to your specific question, I'm sure I can put you in touch with someone who can answer it and you won't have to talk about it on the forums. Feel free to get in touch, I am available anytime via cell or email.

Sandra Hazeltine, REALTORĀ®
BHHS Fox & Roach, RealtorsĀ®
Center City-Rittenhouse Hotel
210 West Rittenhouse Square
Suite 406
Philadelphia, PA 19103
Mobile: 609.618.4119
Direct: 215.875.3357
Office: 215.546.0550
Fax: 215.546.9781
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more