Profile picture for adam ashley

Can I get a home loan with a 627 credit score?

I've had some credit troubles in the past but have been making payments on time and have raised my score to 627. My wife and I are expecting our first child in June so a down payment would not be an option yet. Is a home loan achievable? Thanks, Adam
  • January 07 2014 - Omaha
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (12)

Yes we can.  Happy to help.
[Promotion and website removed by Zillow moderator. Please see our Good Neighbor Policy for more information.]
  • February 13 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

There are lenders out there that will go down to a 580 credit score. However, I think you need a larger down payment and there are some stricter guidelines. There are also some lenders that will work with  you raise your credit score. It's not impossible but may take a bit of time. 
Good luck. 
Nancy 
Realtor - Cal BRE #01893550

  • February 13 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Adam,

Lots of options and things to consider.  Many lenders will offer you a loan in this credit range.  I would suggest finding a lender that is willing to help you review credit and get the credit score up. This will open the door for you as start to look.  If I can help please let me know!
  • February 13 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

You can do FHA and get a gift from a family member or have them as a "non occupying co borrower" [Content removed by Zillow Moderator. Please see our Good Neighbor Policy] if you want to look at options.  I used to own my own mortgage company and can help your through the pre qualifying process.

Scott Francis
Deeb RE
  • January 21 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for jannicola
Yes a home loan is achievable. Like the lenders said, there are more factors involved than just your credit score.  In what area are you looking to buy?  For some areas, there may be available funds for down payment assistance.  I would love to help you find your first home!  Call/text me.
Jan Nicola
[Spam removed by Zillow moderator, see our Good Neighbor Policy]
  • January 08 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Yes! That score is completely acceptable. There are lenders like myself that are able to do loans with scores as low as 580. So since you are above that, there should be a good chance that you qualify for a loan. It is important to keep in mind that your ability to obtain a loan relies on other factors as well. These factors include income, debt, assets, expenses, down payment, employment, as well as credit. Either way, the best thing for you to do is to speak with a lender directly to see if you can get started on financing with your situation. There are lenders like myself that would be glad to speak with you to help you get the loan that you need. Well I hope this helps! If you have any further questions or if you would like a loan, feel free to contact me.

Good Luck!
  • January 08 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

The 627 score would not by itself disqualify you for a home loan. If you are a veteran, you may be eligible for a VA loan with no money down, but there are no other loan programs that I am aware of that do not require a downpayment
  • January 08 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for dawnbrownseo
[Spam deleted by Zillow moderator. See our Good Neighbor Policy.]
  • January 08 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

You should be able to, you may need to pay a little more.
  • January 07 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for essiecthomeinteriors
I would suggest Home Loans Today in Orlando, Florida. I applied to them and they were fabulous. I was lucky enough to get assigned a young woman who's name is Jasmine Thorne. She is creative, smart,constantly in contact, compassionate, efficient and finds ways of making anything happen. I know that first hand....I am closing the day after tomorrow. The whole team keeps involved and have no big egos. They all help eachother and just do it! They only have one goal and that's to support the customer. I had never heard of them prior to my negotiations. I just called them because of an advertisement that I had seen on Kredit Karma. Good luck...ask for Jasmine...she'll get you into a manageable and solid mortgage. Esther Glastonbury,Ct.
  • January 07 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

In your situation Aaron is correct in saying you should look for a loan officer to run a full credit report and then explore your options.

Good Luck
  • January 07 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Hello adam ashley,


Based on the score alone, probably.  You'll want to contact a lender and have them pull a full credit report so they can determine all three of your scores.  Credit score is one of several factors, however, that go into qualifying for a home loan.  Again, you'll want to contact a lender for more details and to review your situation.  It's not too early to start the process and make sure your ducks are in a row for when you're ready to buy! 

Hope this helps! 


Thanks,
Aaron
  • January 07 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.