Home Buying in 91103>Question Details

Celipurple, Home Buyer in 91103

if I have a credit score of 585 income of 60,000 and my partner not working has a credit score of 720 can I qualify for a mortgage loan of $120,000

Asked by Celipurple, 91103 Wed Jul 4, 2012

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Ron Takeuchi’s answer
Hi Celipurple,
Well, the situation you describe puts you on the border-line for loan qualifiation. There are so many loan products and everything is based upon more specific financial information, you need to address this with a great lender. If you want referrals of my go-to lenders, I will be happy to provide them; otherwise you should have a long discussion with the lender of your choice.

When you reach the step of choosing a knowledgable and skilled realtor, please contact me @ 626-808-8430.
1 vote Thank Flag Link Wed Jul 4, 2012
It is possible that you will qualify by yourself wit the 585 score and 60K income. It will depend on all the other factors that go into qualification other than income and credit score, but what you have stated certainly won't disqualify you. If you can come up with 3.5% down payment and closing costs or negotiate seller paid closing costs you may be able to get a FHA mortgage.

Contact me for assistance.
Web Reference: http://WeFixRates.Com
0 votes Thank Flag Link Wed Jul 4, 2012
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