What credit score do you reccomment home buyers should have prior to purchasing a home?

Status: Open
Sep 30, 2015 Answer a Question

Are there any first time home buyers programs out there you recommend. Should one get their credit score to a certain score prior to purchasing a home?

Asked by
Consumer
Categories:
Affordable Housing
About 8 years ago
Best to have the buyer contact a local lender and have their credit pulled and reviewed so they can give you the best answer. All depends on what type of loan they qualify for and how much they cash they have available too.
About 8 years ago
call me on 281-760-9879 I am Realtor and I can give you information on the down payment assistance program. Most Lenders will walk with a 580 middle score. www.Gustancho.com there a forum where you have read about loans and pre-qualifying and everything you need to know about buying.
source:
www.Gustancho.com
About 8 years ago
Depends on your lender if they use your FICO score like most do than 620 http://homeguides.sfgate.com/good-credit-score-buying-house-7483.html
source:
http://homeguides.sfgate.com/good-credit-score-buying-house-7483.html
About 8 years ago
For those interested in applying for an FHA loan, applicants are now required to have a minimum FICO score of 580 to qualify for the low down payment advantage, which is currently at around 3.5 percent. Speaking with a lender and finding a knowledgable Realtor® should be your next step. I recommend Keith Ward as a reputable lender. http://www.kwloan.com/ And there are many knowledgable Realtors® here on har.com. :)
About 8 years ago
Hi Noemi, I would suggest you start off by checking your credit report on annualcreditreport.com to check for incorrect information. You could pay a fee to get your credit score, but that is not necessary to pay a fee for the report. There are many different routes to obtain financing for a home and it can be overwhelming. Start at your current bank to see if a loan officer can help you out. If you don't already have a Realtor, contact one that you feel has the patience and knowledge to walk you through the process of purchasing a home.
source:
www.annualcreditreport.com
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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