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Answers (3)
- Eric Smith, "ohiosmitty"
- Contributions:352
the 620 score making 20k per year should qualify to buy a 25k house. the tricky part will be finding a lender at that low of an amount.
More than likely you (your fiance) will need to go a local bank to get this low of a loan.
Try one of the 5/3 banks there in Eastlake...they do FHA. Going there will also tell you how much your fiance can buy...he may be around the 40k range...good luck!
More than likely you (your fiance) will need to go a local bank to get this low of a loan.
Try one of the 5/3 banks there in Eastlake...they do FHA. Going there will also tell you how much your fiance can buy...he may be around the 40k range...good luck!
- Debra Chiarello, "dchiarello"
- Contributions:83
Highly unlikely. Your fiance's score is OK, but her income is too low. Your income level is better, but your credit score is awful. You also don't address any additional debt you may be carrying. You might speak with a mortgage lender and set up a plan of action to purchase a home sometime in the future. Some lenders have connections with credit repair companies who can help get you on the right track.
- Alan Grizzle, "Alan Grizzle"
- Contributions:401
I do not expect you will get a loan with a 450 score however you fiance with a score over 620 should be fine if the debt to income is OK and the home is qualified for the type loan program they are approved for.
Have a good agent talk with your fiance's lender about the loan programs they are approved for and check the home to see if they think it can be approved for the loan.
Good luck.
Trying to buy a $25,000 house.
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