Posted on: 14th Aug, 2009 04:31 pm
Our credit score is in the 560's. Our income is between $110 and $120,000.00 Part of this is $40,000.00 from a pension. I am looking to purchase a $200,000.00 home.
I woudl suggest, some lenders may lend you money but it will be difficult, but the rates may be really high
As of now if you have good incoem you woudl be better of working on improving your credit score by paying off all your current debt and being current on all your payments
Once you are at 620 you may be able to get a FHA loan
By the way you did not sayhow much down payment you are lookign to put down
As of now if you have good incoem you woudl be better of working on improving your credit score by paying off all your current debt and being current on all your payments
Once you are at 620 you may be able to get a FHA loan
By the way you did not sayhow much down payment you are lookign to put down
amschall
You woudl be in abetter position to get a loan if you cna work on improving your score to 620 and apply for a FHA loan
Your income is really good to qualify you for loan, but yoru credit score is not helping that.
Incoem is not the only facotor which can help you to get a loan. You need to good credit score and also resonable Debt to Incoem Ratio
Good luck and feel free to ask
You woudl be in abetter position to get a loan if you cna work on improving your score to 620 and apply for a FHA loan
Your income is really good to qualify you for loan, but yoru credit score is not helping that.
Incoem is not the only facotor which can help you to get a loan. You need to good credit score and also resonable Debt to Incoem Ratio
Good luck and feel free to ask