Your Credit scores would need to be 640 to be able to qualify for most loans. Some lenders would accept as low as 620. The loans you would be able to qualify for would be: the most common one FHA (3.5% down payment is needed), You would also qualify for a 100% VA loan if you or your husband has ever served military. Homepath Loan with 3% downpayment (only limited to homes owned by Fannie Mae). You can also qualify for a County Bond program which would cover your 3.5% down payment if you fall within certain income category. USDA (100% Loan) is also an option but only in certain areas (Altamonte Springs for example would not qualify for USDA loan).
The first step would be to talk to a lender, they will take a look at your credit, income, debtâ€¦ and let you know how much loan you can qualify for. I have a great lender who can do that and also if you need any help improving your credit score he will help you with that free of charge.
Please feel free to send me an email if you would like me to email his info to you.
Top Producer RealtorÂ® with over 26 years of experience
Awarded as Exit's TOP Buyer side Transactions for the State of Florida
We have had 142 successful transactions during the past year alone.
Exit Realty Access, LLC
Direct: (407) 744-2533
Fax: (407) 444-9925
Kissimmee Office: 391 N. Main St., Kissimmee, FL 34741
Altamonte Springs Office: 660 Palm Springs Dr., Suite D, Altamonte Springs, FL 32701