will a low credit score keep me from getting a home, even when I have a job?

Asked by Rhonda Johnson, Tarpon Springs, FL Fri Jun 8, 2012

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Jeri Patrick, Agent, Pooler, GA
Wed Jun 3, 2015
I would speak to a local lender to see what loan options are available for you. Best of luck
0 votes
Ernie Behrle, Agent, Raleigh, NC
Wed Jun 3, 2015
The answer is YES.... if you have a credit score typically below 630, you may not have much of a chance or if you do, will pay a higher rate. Those scores change periodically and can even vary upon geographic location. It is best to call a local lender and talk to someone about acceptable credit scores
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Rodney Mason, Mortgage Broker Or Lender, Atlanta, GA
Fri Jun 8, 2012
Hi Rhonda,
Yes, depending on how bad your credit is, it can and will prevent you from qualifying for mortgage. An acceptable credit score is one of the qualifers.

For an FHA mortgage, most lenders require a 640+ credit score for the last 2-3 years now. Prospect Mortgage is one of the few direct lenders to offer an FHA 580-639 FICO loan program. Credit profile is a major factor in a mortgage approval. Generally, there should be no late payments, new collections accounts/charge-offs/liens/judgments in the last 12 months.

Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified you purchase, you can submit your request online at http://www.rodneymason.com.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle Renovation | VA | USDA | GA Dream | Jumbo Financing
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