Comments on: With A Credit Score Of 619 Can I Get A Home Loan?

By: Butchy Karen

Butchy Karen — Wed, 03 Mar 2010 07:20:44 +0000

probably not with that much debt.

By: Summer M

Summer M — Wed, 03 Mar 2010 04:45:10 +0000

the medical bills shouldnt really effect it because they had to treat you but the loans you should pay off some off it
try going to freecreditsreport.com
excellent luck on the house

By: barry c

barry c — Wed, 03 Mar 2010 01:13:27 +0000

you can get a hone loan with any credit score
you might not like the interest payments

By: Just Wondering

Just Wondering — Tue, 02 Mar 2010 20:02:30 +0000

It’s not impossible but it will be hard. Get as much debt paid off as possible. I am not sure about the medical bill situation. Excellent luck.

By: dh1989

dh1989 — Tue, 02 Mar 2010 14:31:25 +0000

If you have enough income to afford mortgage payments, you have enough to start paying down those student loans. I would concentrate on digging myself out of that debt before going into more to buy a home.

By: candi h

candi h — Tue, 02 Mar 2010 10:17:40 +0000

If you stay on the right path and pay down those cards i can certainly see you getting the home loan. Just make sure that your employment is stable and all of your bank accounts in the next few months are positive and in excellent shape. Also try to also save a small bit of money for reserves to cover a few months of mortgage payments. Excellent luck.

By: mal.tjb

mal.tjb — Tue, 02 Mar 2010 09:43:20 +0000

Yea u can..but its probably gonna take some frustration, denials, and looking around a lot. We just got a mortgage with a 580 credit score and stated income (which is even harder)..but it was VERY hard. If the property you are interested in is FHA approved, it’ll be even simpler. Try going to topdot.com, and look in a search engine for low credit score mortgages in your area. Be prepared to place down at least 3-5%, and not have the best interest rate. You could also try paying once of those credit repair companies (like lexington law), to fix your credit. It usually takes 60 days, and your score will improve dramatically (check out websites for that also), and it’ll save u a lot of money with your interest (those places usually charge around $300, but it’ll be worth it). But either way, you should be ok. If we could get a mortgage, anyone can lol. I really hope that helps, & if you have anymore questions about it, feel free to email me.

By: cagsr195

cagsr195 — Tue, 02 Mar 2010 04:11:23 +0000

Pay off the medical bills. Make sure they are off your report before you apply for a loan.
Having a small amount on your credit card and making timely payments on it are an asset to your credit score.
Make sure your debt to income ratio is 36% or lower. Example:
Say your yearly income is 10,000. the total of all your payments(including your new home)cars,credit cards, student loans, can not total more than 3,600 per year.
Paying the overdue medical bills should give you a small 10-25 point bump up in your credit score within 3 months.

By: J West

J West — Mon, 01 Mar 2010 22:44:33 +0000

Yes you can get a Home Loan. . . Depending on your payment history and yoru score and your debt to income ration, you may have to make a higher down payment, and your interest may be higher.
You may want to consider this before you apply. You should continue to rent for a few more years, pay off 90% of your revolving debt, pay down your student loans as much as possible. You do not want to place yourself in a bind. I do not know your financial situation but you want to pay off that dept as soon as possible so you can place that extra money somewhere else.
Thought. . . . If you have not consolidated your student loan debt, you should do that, but leave the smallest ballance un-consolidated. The reason for doing this, if all of your accounts are consolidated then you cannot consolidate again because they are already done so. Why would you want to consolidate again, because interest rates may drop a few points, and it will save you thousands.