Your credit score has emerged as the single most important piece of financial information regarding your financial worthiness.
To a lender, it is a â€œsnapshotâ€ of the likely hood that you will repay the amount that you are asking to borrow. Itâ€™s also a determining factor as to how much interest rates you will be charged, how much more premiums you will pay for automobile insurance and even whether or not you will get that dream job!
If you have already found a property & submitted an offer BEFORE addressing the reason(s) for the 592 FICO score....you may have a little problem . The fact that you have $35,000 down payment is great...but it's not going to earn you a "PASS" on the score...nor will it help you close-your-home-loan anytime soon. ( Had a client recently who had $150,000 down & did not qualify)
Bottom Line: I do not think that you can qualify in the current mortgage climate with the score/judgements/down. If you need help qualifying, reach out to me and I'll be more than happy to
assist you anyway that I can. Good luck on your journey.
I appreciate you!
NMLS # 241036