first time buyer low credit

  • August 12 2012 - Torrington
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Answers (5)

I don't know of any lenders that will go below a 640 score currently, If you are willing to take the proper steps to increase the score i.e. paying off bad debt, getting balances under 50% of the credit limit on revolving debt, making sure that you have open, active and paid on time accounts for the past 12 months etc. then you can get there. I would be happy to work with you by running your credit and letting you know what should be done to increase the scores as long as you are committed to taking the steps needed. - If you are ready take the steps contact me and I will be happy to help you get there! 
  • August 30 2012
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m score is 589 and i have other loans but can only afford 700.00 amonth for home, sewer and water, taxes, and condo fees, electric and home owners ins .would like to pay off all bills and combine them into one payment a month .right now i pay out 1500.00 total for all things  also getting divoce and want to start over . thank kathleen jasmin
Ihave all my loans through my bank  and have had pretty good luck with them im been with them for over 8 years .
  • August 13 2012
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how "low" is low?
why is it low?
what can you do to improve it?

Talk to a mortgage rep to see if you are qualified to buy at this time
  • August 12 2012
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As already mentioned, Kathleen, we'd need significantly more information to help you.  That being said, most lenders will go down to a credit score of 620, and there are ways to get down to a 580.  Below that gets very difficult.

Do you have cash to bring to closing?  A significant down payment and a lack of debts will help, among other things.  If you need help, please feel free to contact me or anyone here.

- This is not legal advice and is not intended to create an attorney-client relationship.  The post is only an opinion.  You should speak to an attorney for further information.  The poster is licensed only in CT & NY.    If this post is useful to you, please remember to upvote it.

  • August 12 2012
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  Hi Kathleen--I would need to have a bit more information. Sounds like you have a low credit score. I would need to know how low, do you have a down payment--if so, how much, your price range and a few other things. It would be best if you call me or email back with some more information. I'm sure you don't want everyone online to see--so if you want to reach me--please do so. We are at Prudential CT Realty in Westport, CT.
Regards, Mary Ann  

  • August 12 2012
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