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may201964

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i want to purchase a home i have 20% down but i have 570 score. can i buy

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Actually, the first answer is factually incorrect and misleading. Mortgage lenders DO NOT require a buyer to be close to 700, totally inaccurate. I say this as I am in the home building industry and deal with customers and lenders daily.

You can possibly qualify, but most likely will need to get above 580. There ARE programs out there especially when you are putting that amount down. That said, there are many other factors that will determine if you qualify but the bottom line, there are programs available, contrary to the naysayer, uneducated previous answer.

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icuhowie

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No Not Misleading,   I did not say Anything about ANY MORTGAGE LENDERS at ALL!

The Person has a Credit Score in the Crapper,  They Need to Address that and not take on Any new Debt. 

Lets see 6 years ago I had a Credit Score in the Low 600's ,  Above the 570 this person had.   Could not get financing for 5 months ended up paying cash for the home. 

"You can possibly qualify,"   Really think this is misleading. 

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Can you afford the property taxes and/or homeowner's association dues?  How about replacing the appliance that will break an[d the roof that leaks?  And you do need good homeowner's insurance with adequate liability coverage?  Thnose are things to consider in addition to the purchase price. Renting is not a bad deal'.

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with a Score like that,  Nope. 

You need to get your FICO Score up close to 700 before hand. 

You need to work on getting rid of all the Bad Information on your Credit Report.

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