Posted on: 27th Jun, 2011 03:00 pm
My Grandparents passed away a year ago. My brother lived with them and wants to buy there house. He dosent have much of a credit history. I think his score is around 580-600. Is there any progams out there or anything he can do to buy the property?
Hi rogh,
It will be difficult for him to get a mortgage with such low credit scores. In order to qualify for a FHA loan, he should have a credit score of at least 620. If he wishes to go for a conventional loan, then he should have a credit score of around 700-720.
Thanks
It will be difficult for him to get a mortgage with such low credit scores. In order to qualify for a FHA loan, he should have a credit score of at least 620. If he wishes to go for a conventional loan, then he should have a credit score of around 700-720.
Thanks
>>or anything he can do to buy the property?
Yes, he can use a co-signer.
Yes, he can use a co-signer.
