Profile picture for user47638721

can i get a mortgage?

I have been in the same trade for 20 years but just recently switched employers. If it matters, I now work for the federal government. My base income is $81000/year. I have no debt, but little recent credit history. My fico is 586 due to some old issues. Is there a loan that I cam qualify for? Looking to buy this year, if possible. Price around 225000. I would appreciate any input. Thanks Rick
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
June 16 2013 - Aberdeen
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (7)

Switching employers is not a problem.  We need 2 pay stubs from your current employer before the loan closes.  I can do loans down to 500 credit score and would be happy to talk to you about your options.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 17
I beliwve I can help out. My company does purchase loans with FICO's down to 500. First we would look to help boost that score and then see what type of prgram we can pre-qualify you with.

Feel free to contact me if you need help or any other questions!

Best wishes!
-Scott
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 17
I am a local lender and live in Perryville myself. I noticed your post is old, but if you are still looking for some guidance, feel free to contact me.  We have the ability to go down to a 580 credit score, but we also look at ways to improve your credit as well.  Feel free to contact me via my profile.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 17
Congrats on the new job!  There a several tools that the credit bureaus provide that will give us a clear road map as to what you will need to do in order to get your scores up to where they need to be in order to qualify for your new home loan. In some cases in as little as 20-30 days. I should ask, where did you obtain the information that provided you with the 586 credit score?  I know, several years ago, when I was working on my credit I was getting mixed information from a consumer website of what the scores were compared to when pulled by the mortgage lender.  In my case, the scores were actually better!  If you'd like to discuss some of your options or have any other questions, feel free to [Contact information removed by Zillow moderator. Please see our Good Neighbor Policy for information.] 

- Jim 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 15 2013
You need to work with a seasoned Loan Officer. A 586 can come up quickly with the right Captain at the helm.

Best of Luck!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 15 2013
Call [spam content removed by Zillow moderator due to violation of Good Neighbor Policy]. They should be able to do the loan for you.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 15 2013
Ive had several clients boost their scores by doing a few smart things with their credit as long as there is no bad recent debt.  They are things my lender suggests.  Email me if you would like to know these steps. Usually takes 2-5 months depending on the steps you take. 

As for a switch in an employer, most lenders will be fine with this as long as it is a similar field/increased job opportunity.  Where they frown on it is where you go from salary to commission or from something like a mgmt to waitress. (As an example). 

Good luck. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
June 16 2013
 
Related Questions
can i get a mortgage?
Profile picture for Jim Randolph
Latest answer by Jim Randolph
February 17 | 7 answers
Bankruptcy discharged in 2011,no short sale/forelcosure on home to date can i obatian a new loan
Profile picture for Anthony Thomas
Latest answer by Anthony Thomas
November 06 2013 | 5 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 315 Victory Gallop Ct, Havre De Grace, MD Home For Sale
    315 Victory Gallop Ct, Havre De Grace, MD 21078

     For Sale: $309,900

    • Beds: 3
    • Sqft: 2612
    • Baths: 3.0
    • Lot: 6718
  2. 1003 Leslie Rd, Havre De Grace, MD Home For Sale
    1003 Leslie Rd, Havre De Grace, MD 21078

     For Sale: $249,900

    • Beds: 3
    • Sqft: 1622
    • Baths: 3.0
    • Lot: 21780
  3. 449 Wyn Mar Ave, Aberdeen, MD Home For Sale
    449 Wyn Mar Ave, Aberdeen, MD 21001

     For Sale: $159,900

    • Beds: 2
    • Sqft: 918
    • Baths: 1.0
    • Lot: 15280