Can my MoM buy a House with a Experian 795 Credit Score. She is 73 yrs old?

Ok here is the deal, I%26#039;v been trying to rent a house for my Mother (she is retired 73 yrs old) nephew and my Fiance. My credit score is BAD (501) and my fiance%26#039;s is BAD (513) thats the score I got from Experian. My Mothers score was (795) All three of us have to submit to a credit check for renting of any house. With my Bad credit score no one will rent to us. My mother has about $105,000.00 liquid. Can anyone give me any advice please? My mother currently lives in Riverside, CA taking care of her grandson, my sister passed away a couple of months ago. I live in Harbor City, CA. and they want to move closer to me, thus the reason we are looking to rent a house so that we can live together. The rent ranges from 2500.00 to 3000.00 a month. I really want to know if she can qulify to buy something and have a morgage for about the renting price. Any and all advice will be appreciated. Thank You.

When my sister was sick I paid her rent and all her bills/ my credit went into the toilet.

Can my MoM buy a House with a Experian 795 Credit Score. She is 73 yrs old?

With a 795 credit score it should be pretty easy, assuming underwriting criteria can be met. I would suggest you seek an experienced mortgage professional that can help you structure a possible government loan scenario either through FHA or another program. The loan limits for FHA have just been raised. The fact that your mom is 73 doesn%26#039;t matter. I%26#039;ve done loans for borrowers older than that. You and your fiance can take steps to bring your credit back. To give an example: if you borrowed $300,000.00 at 6.25% for a 30 year term, your principal and interest payment would be $1848.09. That is only a generalization as there is APR, etc. to consider. My advice is to sit down with an experienced mortgage pro and see what the three of you can do together. There should be no cost for this.

Can my MoM buy a House with a Experian 795 Credit Score. She is 73 yrs old?

She should be fine. Right now the banks/real estate companies and mortgage companies have a lot of foreclosed homes they need to sell.

Can my MoM buy a House with a Experian 795 Credit Score. She is 73 yrs old?

does she have any sort of income? how much are you able to put down? these make a difference in whether or not she will qualify. feel free to contact me if you need help. i am a loan agent and own my own mortgage bank where we lend our own money.

Can my MoM buy a House with a Experian 795 Credit Score. She is 73 yrs old?

With a score like that, she wouldn%26#039;t have any problem getting a loan with a nice low right. She could get 5.325% at 100% financing.

Can my MoM buy a House with a Experian 795 Credit Score. She is 73 yrs old?

wow talk about opposite scores,

A 795 is awesome, like perfect credit, could get a loan anywhere, and the best rate, the fact that she has 105,000 to use a s a down payment, unless you live in a real expensive area, and i know southern cal, is, you should be able to get a loan, if you buy a house for 375,000 put 100,000 down, at 5.75% interest, not counting property taxes your payment should be around$1600,

now about you and your fiances credit, Yeah, hate totell you this but those scores stink, A 501 is alomost as low as you can go, howver you could buy a house though if you are putting atleast 20% down and have good income and have a few other debts.