Posted on: 14th Feb, 2011 02:48 pm
So I make about $25k a yr and my credit score is in between 600-620 but I owe about $30k between car and credit cards. Im looking to buy a first home and wondering if I would qualify my husband has a bad credit and filing for bankruptcy so he can not be included, Oh and I have a bankruptcy but its from about 6 yrs. Thanks in advance!
Hi janetlopez!
Welcome to forums!
With a credit score of 600-620, you may qualify for a FHA loan. Conventional loans are available at a credit score of 700-720. So, you won't qualify for it. For a FHA loan, you'll have to put a down payment of 3.5% - 5%.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
With a credit score of 600-620, you may qualify for a FHA loan. Conventional loans are available at a credit score of 700-720. So, you won't qualify for it. For a FHA loan, you'll have to put a down payment of 3.5% - 5%.
Feel free to ask if you've further queries.
Sussane
Where are you getting your information that someone needs a credit score of 700 or more to get a conventional loan?
