Posted on: 31st Jul, 2013 12:27 am
My credit is over 680 – I know that it is not the best. I have a good income but don't owe anything. I am thinking of owning a property. What should I have in bank, what should my credit score be and what other factors should I consider for home owning.
Hi Guest,
You should save at least 20% down payments and monthly mortgage payments for 6-8 months. If you wish to take out a conventional loan, then you should have a credit score of 700-720. You can also check your home affordability before you apply for a mortgage to buy a home.
Take care
You should save at least 20% down payments and monthly mortgage payments for 6-8 months. If you wish to take out a conventional loan, then you should have a credit score of 700-720. You can also check your home affordability before you apply for a mortgage to buy a home.
Take care
Hi Guest!
Welcome to the forums!
Get to know more on mortgage basics from the given page:
http://www.mortgagefit.com/mortgage.html
Sussane
Welcome to the forums!
Get to know more on mortgage basics from the given page:
http://www.mortgagefit.com/mortgage.html
Sussane