Profile picture for smilepretty87

Crappy Credit.... but I have 20% for a downpayment... How do I get approved?

I'm looking for home 100K or less ... I have 20% down down payment.... I have a steady 2+ year job now ... But last time I checked my credit score(may 2013)  its at 614... What can I do to get approved I need a home by December this year!

Also would like to mention I am a first time home buyer!
  • July 08 2013 - Plainfield
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Answers (5)

Get in touch with a lender asap! Many lenders can help advise you on all of your open lines of credit and give you advice on how to raise your credit as fast as possible. Many myths are out there about how to raise credit scores and the best person to get advice from is an actual lender. Things have changed from years ago so grandparents and parents may be giving bad advice and not even know it. 
  • July 10 2013
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Profile picture for Ed Rorrer

Get credit counseling and fix what you can you still have some time. Try to get it to a 620 or better yet a 640 as soon as possible.

  • July 09 2013
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Profile picture for samlepore
Hi there-

Talk to a GOOD Mortgage lender.   They can offer some advice after seeing your credit.  Do not pull your credit several times....have the lender look at it, give advice and then act on the advice right away.   You will most likely need your MIDDLE credit score above 620 to get financing.

Let me know how I can help.  I know some really GOOD lenders. 
  • July 09 2013
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You can give me a call and id be happy to have my lender of choice Kevin Odonnell from front gate mortgage give you a call.

Thanks
  • July 08 2013
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Profile picture for Outer Banks N C
You need to take the time to go see a loan officer at your bank or a mortgage broker and let them check to see what they can do for you. Asking here won't get you very far. Talk to a couple lenders and see what they can do, its easy, fast and free. Then you will have a real answer.

tim
  • July 08 2013
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