Posted on: 02nd Jun, 2009 12:15 pm
I am a single male, I have been at my job for over two years and i've never been late on my rent for the two years that i've lived here. Never been late on my car note. So is 624 good enough to qualify me for an fha loan? Also I have no credit cards???
kedimaki2
Welcome to forum.
FHA requres 620 minimum.
So you are above that number and shoudl be ok for a FHA loan.
Good to know that you are current on all yoru payments and that will help you in the logn run.
Is there a reason why your score is around 624 when you do nto ahev debt or credit card balance?
Welcome to forum.
FHA requres 620 minimum.
So you are above that number and shoudl be ok for a FHA loan.
Good to know that you are current on all yoru payments and that will help you in the logn run.
Is there a reason why your score is around 624 when you do nto ahev debt or credit card balance?
Yes you do qualify, but since you are near the edge I would recommend not opening any new credit cards or any accounts until after you close to ensure that your credit score remains where it is.
Good Luck
Good Luck
Okay, I am the original poster with the 624 credit score. My other quesion is, what do I need to do next? I don't know where to start???[/b]
The next step would be to contact either a mortgage banker or broker and go through the application process with them. If you live on the east coast you can contact me and I can point you in the right direction.
Okay thanks. I live in Oklahoma. Any info on the $8,000 first time home buyers credit? I appreciate everyone who has given me this info!
Hi, Well the numbers you provided dont seem bad and if all other finances are in good standing. Then you should go for an fha loan.
If you are interested in beginning the process, you can get a quote here within the community. Follow the links for Mortgage Quote and a qualified lender will be in contact with you. I hope this helps...
A credit score of 624 is comparatively good. It will help you in getting loans at a lower interest rate than what you would have got with a lower credit score. The loans work on the credit score basis. The higher credit score you have; lower rate of interest you have to pay and vice versa.