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Answering "Glass Half Full"

My score was 630, and his is 680? Both fairly low!
We put an offer on a house Wed, and it's final at $88,000  We are looking at an FHA loan at 3.5% down.

This is a VA foreclosure, and it is a really great find! How can we make sure this works out?
  • January 16 2009 - Manvel
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Answers (2)

Actually a 680 is not really that bad.  FHA is definitely a good option and with your credit scores, rate should be decent.  Your rate will be impacted a small bit because of your credit score.  Do  you have the money to put down on it?  Also be aware that you will have mortgage insurance and an upfront FHA mortgage insurance premium that will be financed into the loan.  I beleive it is 3%, however, I do not do FHA, so I may be mistaken.

  • January 16 2009
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If you qualify it will work out....it's that simple.
  • January 16 2009
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