Your first priority is to speak with a lender...either where you bank or call for a referral. Once you know not only your score, but the lender will also tell you how much you can comfortably afford to spend on a house. Once you've done that, call a Realtor.
Heather you may feel free to contact me at 304-886-3248 I've had some great success with a few of my go-to lenders in getting over some credit challenges. email@example.com
ERA Liberty Realty of Martinsburg, John Kilroy, Broker
i had spoken in the past with another agent a few months ago and he pulled the information and had my 3 scores ranging 590-605 and said he was going to get back with me but never did. I don't have any major derogatory marks on my report just the ratio on my cards is high. I would really like to speak with someone to see what my options are.
I have a credit analyzer system that will
Not only tell you what your score is, but will also tell you what you need to do to increase your score. We can sit down with you and run options for you. Such as... If you pay this off, your score will
Be this... Etc. we can enter your information and tell you exactly what you need to do. If none of this works we also have an owner financing program you may qualify for. Email me. P3b69arj@gmail.com. Or call 304-283-0723. We have several homes coming up that could work
620 -640 I believe is required. You can get there in about 3 months by doing certain things, short term credit card. . . pay off some other credit scores, that sort of thing. Have you spoken with a lender? Dawn Reidy, 304-671-0387 Century 21 Braddock
Yes, but it depends on other factors as well. Some lenders can work with this, some can't.
They will, however, check your credit score first to see exactly what it is. Often the score someone thinks they have is not the same score a loan officer pulls up.
Please contact me if you have other questions...I'd be happy to get more in detail with you.
Heather it is possible with a score of 580 or better to get an FHA loan but it also depends on what else is on your credit report and other factors that might effect your financing such as your income.
You will want to work with a lender who is knowledgable about what can be done to repair your credit in the shortest amount of time and see if you can't improve on that 600 score.
FHA does requires a 3.5% down payment (which can be gifted) so some investment on your part will be required.
There are other options for 100% financing but that higher score may be required, you're close so you'd need another 40 points or so. You need a good lender to evaluate your overall credit picture and counsel you. Most real estate agents have several of those on speed dial!
I hope this was helpful and that you pursue your home buying options. With interest rates in the 3-4% range and lots of available inventory it is a great time to make that investment.