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i have a 649 credit score, not much credit history is it possible to get a loan ?

i have to move soon, i have 20,000 to put down, 1st time thinking about buying a home, condo or etc.. i need serious advice! is it even possible in nyc?
  • April 13 2013 - Bedford Stuyvesant
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Answers (3)

It is not solely based on your credit score. If the other factors that need to be considered like job history, income, cash reserves, etc then yes you can get a loan. Everyone's situation is different and you should get in touch with a reputable loan officer and have them run your scenario. From there you will know where you stand and what your options are.

Once you have your financing lined up you will be ready to start house hunting.
  • July 10 2013
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If you really have the credit 640 and above then and a down-payment, I would say yes, but you need to talk to a mortgage broker about the programs they may have rather than a big bank like Chase or B of A.

A mortgage banker and/or mortgage broker will have more flexibility in the loan products.
Home Mortgage Loans
  • July 10 2013
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We recommend that you meet with a loan officer at 2 local banks to determine if you can qualify.  And, if you can't qualify, ask them what you need to do to qualify.
  • April 13 2013
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