My credit score is 668. How can I qualify for a mortgage?
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18 months ago
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Dear future home buyer. Yes, talking to a mortgage broker or bank will be a good start, however, do not try and get answers over the internet. This matter is for a face to face talk. Do not talk to 10 different lenders either, they all want to pull your credit. Talk to one, let him/her pull your credit and get all the info you need. Then talk to one or two more if you want to and provide them with the report you received from the first. This will only be a consultation then based on "trust" towards you, the senond and third lender will not gurantee you their "numbers" but it will be good enough for you to get educated. If you are not sure on whom to talk to, ask your realtor, if you do not have a realtor - find one, ask friends and realtives for referral. Usually we realtors can point you in a few directions as we deal with different lenders every day and there are some great ones, good ones and as always some not so great ones :) Good luck and have fun. Buying a home is exciting.
Your score alone is good enough to qualify you for multiple programs, however, qualifying for a loan overall is dependent on other factors as well such as down payment on a purchase, Debt to Income ratios on a refinance, etc. Contact a lender and have them work up an application that will best suit your financial needs and situation.
Call your lender or any bank or credit union. With a score of 668 any lender will be happy to help you as well as any realtor. The lender will ask you for some details and provide you with a pre approval letter. If you make under 85,000.00 be sure to look at the rural loan program for homes just north of Rochester, lake orion and 26 mile rd. I wish you the best of luck and have fun! With many multi offers it can be frustrating, just put in your best offer and if you don't get accepted ... move on, there is another house available for you to look at and offer on. Time consuming and a lot of work but well worth the move in date. Best Wishes.
contact your lender or a local lender and ask for a pre approval letter. they will ask you a few questions, and send you a pre approval letter. If you have no way to print they will send it to your agent. Once you have the letter, any agent will be excited to have a buyer with your score. Be sure to check out the rural loan program if your wages are under the $85,000.00 mark. Good luck and happy house hunting!
There are several programs that you might qualify for. My best advice is for you to connect with a qualified mortgage officer. They will be happy to "pre-qualify" you. It will only take a few moments. More importantly, a good loan officer may be able to review your credit report and provide you with helpful tips to quickly improve your credit score. Often there is a small over looked unpaid bill that could boost your points if paid or corrected. Your score is relatively strong and is likely to already qualify your for a mortgage. Best of luck!