Posted on: 21st Jul, 2009 10:16 pm
What is the requirment to get approve for house up tp 330K I am looking house for that value i want to know what would be bank requirement.
please tell me
please tell me
you will need to provide the following documentation to a lender:
most recent month's worth of pay stubs; w2 forms for the last 2 years; 2 most recent bank account statements (all accounts); evidence of payment in full of any collections or chargeoffs; 2 years' federal tax returns - all schedules - if you're self employed (and be prepared with these even if you're not self employed). it won't hurt to have a credit explanation in advance if there are any credit issues that have befallen you.
most recent month's worth of pay stubs; w2 forms for the last 2 years; 2 most recent bank account statements (all accounts); evidence of payment in full of any collections or chargeoffs; 2 years' federal tax returns - all schedules - if you're self employed (and be prepared with these even if you're not self employed). it won't hurt to have a credit explanation in advance if there are any credit issues that have befallen you.
my credit score is 670 and will it affect for me to buy the house value of 300k
670 is good enough for an FHA approved loan. 740+ for conventional loans.
guest, your credit score is but one element of the qualifying process. if your income is insufficient to approve a loan, then the score won't have any relevance at all. if you lack the funds to make the purchase, you won't get approved, either. there's so much more to it than simply the score.
nevertheless, 670 will not hurt you in the least with fha financing, and if you opt for conventional financing, it will cost you a bit more than otherwise.
nevertheless, 670 will not hurt you in the least with fha financing, and if you opt for conventional financing, it will cost you a bit more than otherwise.