Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Mortgage
Profile Image

Question By
Lu1s92

0 Contributions
0 People Helped
Is my credit score good enough to buy a home?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
3051 Contributions
2786 People Helped

I don't know.  What is your credit score?  In Texas you need at least a 640 FICO score.  The score you see here is not FICO, but just for your education and entertainment.  Visit www.myfico.com to see what interest rate the different scores gets you on a mortgage.

Top Contributor
1132 Contributions
1210 People Helped
Most Helpful Response

Helpful to 1 out of 2 people

(Cracks open a fortune cookie and reads) "You are relentless on your journey as a swordfish!" Lol! It is impossible for anyone here to figure that out just by reading this post. The best thing to do in get a copy of your credit report. w w w anuallcredit report.com is a good free site to check out. Also go to Fico score .com. Pay for a copy of all 3 of your credit scores. This next few lines may be a little dated as it was the standard for my lender about 5 years ago. A score of at least 640 should be good enough for you to purchase a home with an FHA loan. This type loan only require about 3% down of the loan value. There are some lenders that will finance you a low as a score of 580. Keep in mind the lower your score the higher your payment and the more money will have to pay back in the end. Check out your credit reports for any negative items and pay them off, or dispute incorrect information. If all this have been done, then try to get approved from a lender "before" you go house hunting. This will save you the heart ache of rejection and houses that you like that are out of your budget. If you are lazy and don't want to do any research yourself then give these guys a call the credit pro's 1-877-235-0324.To help with your credit. Also try Quicken Loans, they are really good at getting you a great lender as well as give you down to earth advise about what to do if your credit is substandard. Good luck my friend and happy house hunting!!!

1 Contribution
0 People Helped

home refinace

credit score is 648

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.