Heather it is possible with a score of 580 or better to get an FHA loan but it also depends on what else is on your credit report and other factors that might effect your financing such as your income.
You will want to work with a lender who is knowledgable about what can be done to repair your credit in the shortest amount of time and see if you can't improve on that 600 score.
FHA does requires a 3.5% down payment (which can be gifted) so some investment on your part will be required.
There are other options for 100% financing but that higher score may be required, you're close so you'd need another 40 points or so. You need a good lender to evaluate your overall credit picture and counsel you. Most real estate agents have several of those on speed dial!
I hope this was helpful and that you pursue your home buying options. With interest rates in the 3-4% range and lots of available inventory it is a great time to make that investment.... more
The housing market is booming right now. There are so many great homes on the market in cross lanes. I am a REALTOR for Real Estate Central my name is Stephanie Pickens. Call me I would love to help. 3043896025... more
We see that the market in this area is in the midst of re-setting. Do you have a specific area in mind? Higher end housing seems to linger longer as some owners are just coming around to the fact that the market has downturned. If you see something you like online or as a driveby, please contact me and I will research it for you. I tend to advise sellers that a written offer in hand, no matter what the initial price may be, is worth a look and worth negotiating. A buyer determines value!... more
The best advice is to visit in the evening when everyone is home in adjoining units. Listen, do you hear kids, pets, running down the stairs? Newer units tend to be quieter than those older ones built without soound proofing... more
Down payment will vary depending on the type of financing you use. USDA can be as little as zero down. FHA is typically 3.5%. Conventional can be anything from 3 to 20% down. Closing costs also vary per lender. Typcially in the Huntington area you can expect somewhere in the ballpark of $3000 for closing costs. If you would like assistance in writing an offer that will have the seller cover some of these out of pocket expenses please give me a call. 304-690-5448. Thanks! Ed... more
I can help you find a home meeting your needs. Contact me at email@example.com there are a lot of homes available and more coming on the market daily. Do you have any idea when you will be in area to see homes?... more
It is a serious matter for a seller to default on a real estate contract. If you read your contract, it will address your legal options. You should contact a real estate attorney to advise you on what actions may be the legal recourse for your specific situation. As a real estate agent, I would be glad to help with some names and numbers.... more
If he can qualify with out your income, then you should have him apply. This will however effect how much of a house you can purchase since your income is not included. I would seek the advice of a mortgage broker and work hard on bringing your score up. In 30 days, you might be able to move your score up by resolving some minor issues on your credit report. Then your income could be used to increase your buying power. Good Luck!... more
Are you looking to purchase or rent? I can help you find something if you are wanting to purchase a home. For the kind of rent you are willing to pay you may be able to purchase a home. Rates are low (3.25-4% fixed) if you qualify. Call me if you would be willing to discuss purchasing a home. Scott Jones 304.415.4275 Professional REALTOR, Associate Broker/GRI with Real Estate Central in Charleston, WV... more
Sorry to hear about your MS. Obviously, your income has to be counted as long as we can prove it will continue for 3 years or more longer. Your credit score does not sound like a deal killer either. However, there are more factors than just income and credit. Is the home appraising for enough?
Something is off, not sure your disability income or credit score are the reasons for you feeling the lenders are "avoiding me at all costs".
I would be happy to review your situation with a no obligation, no cost analysis. PS, my brother lived in Charleston for 3 years. Best wishes, Jim, 703 615 4675... more
Patricia, are you from the area? The market in Morgantown is very strong in most areas. There is a development called Eastgate Manor that is off of Summer School road that has a really good resale value. Send me an email to firstname.lastname@example.org. I'd like to help. -Heath... more