It depends on the type of home, the type of loan, how much you can put down, and the interest rate that you need or want. Credit score is not the only factor. The lenders will also want 2 years of steady employment, income is increasing, not decreasing, no late payments within 30 days, and if there has been a bankruptcy then not within 2 years. Your mortgage payment cannot exceed 30% of your gross income. 3.5% down. 620 credit score.
You need a 600 for a conventional loan but will require more than 10% down and will pay a higher rate. With a 720 or better you can qualify for 4.45% on a conventional loan, with 10% down.
Call James Del Bosque for mortgage qualifying. http://www.JamesDelBosque.com
Call me and I can give you a full presentation about my services.
GREEN Home Realty is a certified Woman & Hispanic business enterprise with an emphasis on green home ownership. I started the company after obtaining my brokerâ€™s license and the Green designation from the National Association of Realtors. Recently I completed my certification requirements with NAR so I just added the SFR designation. I am also working on becoming an â€œEco Broker.â€ All of these topics are very relevant today so let me be a resource for you. I operate the commercial leasing and sales division under the name GREEN Investment Company.
Cathy Bureau, MBA, REALTOR, Green, SFR
GREEN Home Realty