Established Contributor
Posts: 619
Registered: ‎09-26-2011

Re: Getting pre-approved for New Construction Home

I was able to sign a contract before getting any kind of preapproval with the understanding that I would work with their lender and be preapproved within a certain time frame (90-120 days).  I had to wait to apply until after the last 30 day went past the 12 month mark, which was early June and my house is not scheduled to begin construction until mid-August as the builder didn't start to pull any of their construction funding until 30 days after my pre-qual.  It will vary based on the builder/lender, but it never hurts to ask.

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Posts: 9
Registered: ‎07-27-2012

Re: Getting pre-approved for New Construction Home

actually looking to buy in Humble with Anglia in San antonio now and trying to get my credit high enough to be able to apply by time i am able to transfer jobs into Houston area...This home builder takes fico scores as low as 580!

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+