Posted on: 14th Jan, 2014 11:36 pm
Hello there... We have recently shifted from one state and want to set up our home in the new state. We have a credit score of 630 and 646 respectively. I have a stable job history but my partner has changed his service industry. Will we be able to get qualified for a FHA loan with a low down payment?
Hi Sanders,
Well, you may be able to get an FHA loan with the credit scores that you have mentioned here. However, there are other factors which will also be considered by the lender before giving you the loan.
Thanks,
Jerry
Well, you may be able to get an FHA loan with the credit scores that you have mentioned here. However, there are other factors which will also be considered by the lender before giving you the loan.
Thanks,
Jerry
The scores are ok as some banks will have no issue with them (many want a 640 or higher) Your comment on changing line of work is the first hurdle - what was the job before and what is it now - if it is a similar job in a different industry you can get past that. If not it may take some time - to know if you qualify you should apply and see what the lender says - it really is the only way to know for sure-Good Luck
Brian
Brian
