Posted on: 21st Aug, 2010 06:45 pm
can i buy a house or a condo with that score i have 4000.00 to put down and i work full time.i was just discharge from bankrupcy on july 7 2010 and already my score went up i was at 489.now im at 598
Hi lisatony0100
if you wish to apply for a traditional mortgage loans you will be required to have at least minimum 700 credit score in order to qualify for mortgage.
If you wish to apply for FHA loans you need to have minimum credit score of 620.
At this position you neither qualify for traditional nor FHA.I will advice you to wait for some time and try to improve your score by that time.
Just go through this link.Here it is a credit repair tool which will give you overall idea how to improve your score.You need to answer some of the questions over here in order to get the details.
http://www.mortgagefit.com/calculators/credit-repair.html
DIPA
if you wish to apply for a traditional mortgage loans you will be required to have at least minimum 700 credit score in order to qualify for mortgage.
If you wish to apply for FHA loans you need to have minimum credit score of 620.
At this position you neither qualify for traditional nor FHA.I will advice you to wait for some time and try to improve your score by that time.
Just go through this link.Here it is a credit repair tool which will give you overall idea how to improve your score.You need to answer some of the questions over here in order to get the details.
http://www.mortgagefit.com/calculators/credit-repair.html
DIPA