1st time homebuyer

[Anonymous]

my score is 555,576,478, i wanted to know if anyone knew of any good lenders to buy a home. i tried b of a but they didnt approve me

[Anonymous]

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@Anonymous wrote:
my score is 555,576,478, i wanted to know if anyone knew of any good lenders to buy a home. i tried b of a but they didnt approve me

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Most lenders won't give  mortgage for a mid score lower than 620, unless you have some serious positive factors that will compensate for the low scores, such as an extremely large down payment, but even that's no gaurentee. 

so you may need to work on raising your scores before trying a mortgage.

[llecs]

If those are FICO scores from your lender, you may want to bump them up to at least 620 before applying again. The fastest route is to pay down any CC debt below 9% of their respective limits. If you have anything in need of repair, then I'd suggest reading the following:

Common Abbreviations

Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.

and What Steps Do I Take - great for learning the repair process.

ETA....Once again, woopah is a faster typer than I.

Message Edited by llecs on 05-17-2009 03:06 PM