Zillow Advice: Home Buying - what should your fica score be if I'm a first time buyer

Demetrya,Depending on what ...

Thu, 01 Oct 2009 17:18:00 GMT

Demetrya,

Depending on what typy of mortgage you qualify for 620 is the lowest score allowed under Government loans. ie FHA or VA. The conventional loans require a higher score. If you are ready to purchase you should find a lender you are comfortable with and get pre-approved. Rates are amazing currently the FHA loans are running around 5% and only require a down payment of 3.5%.

I would be happy to assist you with any information. My office number is 402-827-3110

Good Luck

I think they bumped FHA to ...

Tue, 23 Jun 2009 15:51:00 GMT

I think they bumped FHA to 620.

Hi Demetrya,Matthew is on ...

Tue, 23 Jun 2009 07:42:00 GMT

Hi Demetrya,

Matthew is on the money. If you are looking to buy in Omaha I have a great agent that lives there that I could refer you to. I am from Lincoln but have lived in AZ since 1997.

Best of luck and let me know if you or anyone you know needs help with a home loan in AZ.

Thanks.

Brian

To answer your question correctly, ...

Tue, 23 Jun 2009 06:14:00 GMT

To answer your question correctly, you will need to know what type of financing you are getting (ex: Conventional, FHA/VA, etc...). After you know this, you will be able to better understand where you score needs to be. Typically, FHA has the lowest standard right know at 620-640. You will need a higher FICO if you are considering conventional financing.

Feel free to contact me if you have any other questions. I can also refer you to a few great mortgage professionals who have ample amounts of free information for you.

Good Luck!

FICO, not FICA.

Mon, 22 Jun 2009 15:17:00 GMT

FICO, not FICA.

You should have a 580 or ...

Mon, 22 Jun 2009 15:16:00 GMT

You should have a 580 or above for an FHA loan.