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Credit Score in 44144 : Real Estate Advice

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  • Home Buying3
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Activity 2
Wed Feb 23, 2011
answered:
There are 2 issues here, 1 is your credit score, which will not allow you to qualify. The other is whether there is a specific reason that your mother asked about this? If your parents live in the home and are behind on mortgage payments, you will not be able to "buy" it from them to get a better rate. This is considered a non-arms length transaction, and a bail out of sorts. I can't think of another reason why your mother would want to do this. ... more
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Sat Aug 25, 2012
Anna M Brocco answered:
Visit with any qualified loan officer(s), see exactly what your budget can handle and check your credit score--their scoring is different--your loan officer may offer suggestions on how to best improve your credit in the quickest time. Currently FHA loans do require a minimum score of 620 and 3.5% down--there may be lenders that will work with a lesser score, however the interest rate may be higher. ... more
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