soya asked in Business & FinanceCredit · 7 years ago

credit score 627 will i qualify for a home loan?

I only had one debt on my credit report i took care of it today. take home paycheck is about 1000 a week and ive been working at my job for about 3 years will i get pre-approved.

2 Answers

  • 7 years ago
    Best Answer

    Maybe. You need at least a 620 FICO but most lenders want 640 FICO.

    Keep in mind that what shows on all three credit reports is what counts. You need to check all three and make sure they are all clean -- no unresolved derogatory items.

    You also need downpayment and closing costs. Plus, some extra cash to cover all the extra expense of moving to a new home -- window treatments, landscaping tools/equipment, utility deposits and connection fees, etc.

    Source(s): BD
  • Rob
    Lv 7
    7 years ago

    can u get a home loan , yes.

    it may not be best rates.

    do study

    house buying kit for dummies , E tynsen.

    Total money makeover, dave ramsey

    so u can learn from others mistakes , not your own.

    will save u 10,000s$ in hard life lessons.

    Source(s): builder, foreclosure buyer
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