What does your credit score have to be to get approved for a home loan????

I was wondering before I try to apply wat your credit score had to be to get pre-approved for a hime loan? I live in Missouri but wasnt sure if it mattered? Thanks for all the answers!!

What does your credit score have to be to get approved for a home loan????

What you can see from most answers is that each mortgage lender is different. It depends upon what underwriting procedures/qualifications a specific lender has established. A credit lenders being different from B or subprime lenders. However, if you are below 500 Fico score, you will be pretty much shut out from getting a mortgage unless your loan to value is extraordinarily high. (I don%26#039;t mean just a normal 80-95% LTV loan, either.)

What does your credit score have to be to get approved for a home loan????

It all depends on all the circumstances call a mortgagae broker they will consult you for free.

What does your credit score have to be to get approved for a home loan????

you can have a lower score 580-620 and still get approved but you will pay a higher rate the better your score the lowe your payments also if youve got a lower score try fha

What does your credit score have to be to get approved for a home loan????

I am guessing around the 600%26#039;s and up.

What does your credit score have to be to get approved for a home loan????

depends on the type of loan and where you are getting it from. just by asking i am lead to believe that maybe you have some marks on your credit. you need to resolve those asap, then wait 6-12 months, during that time save for a down payment and closing costs. if you have any bankruptcies, make sure that they have been discharged. if your score is 750+ you will get the loan and a decent rate. you can also check with your bank if you have been with them awhile and they can run some numbers for you and options, which may be the best way to go. and for goodness sakes, buying a home is expensive, not just the initial purchase, but consider the taxes, the upkeep, the stuff that is bound to break, it all cost $$$$,. just make darn sure that you can afford the place as well as feed yourself. good luck and i hope you get your home.

What does your credit score have to be to get approved for a home loan????

The question is for a no money down loan, what should my credit scores be? FHA, with a 3% gift, just have fair credit. FHA is not credit score driven. For most sub-prime banks 600 FICO score for a no money down loan. Some sub prime lenders does it at 580 FICO score and I know of one that is do it at a 575 FICO score. You can buy a house with a 450 FICO score but not with a large down payment.

If you would like some more information : rondel@1stmdloans.com or http://1stmdloans.com

GOOD LUCK

What does your credit score have to be to get approved for a home loan????

Is that a general question?

You can apply for 100% loan to value with 680 FICO, lenders will borrow you 95% loan with 620 FICO. 580- need to put 10% down. If you FICO is less then 520- mention First Horizon to your loan originator- you have good chances to be approved for mortgage with 20% down payment

What does your credit score have to be to get approved for a home loan????

if you can put 30percent downpayment, your score will not matter.

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