What scores do I need to start the proccess

[Anonymous]

Hello everyone,

I would like to know when should I start the proccess on buying a new home. I have had some credit problems and trying to rebuild my credit. My scores have come a long way and hoping and praying for a medium score of 650-700 soon. I have seen a wonderful new subdivision and the house I want is being built and will be finished give or take 5months from now. I want to try for a fha home loan but was told by someone that I could not apply for it because i was late one time on my current mortgage within the last 12 months is that true.

Thanks,

Looking4help

[DallasLoanGuy]

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looking4help wrote:

Hello everyone,

I would like to know when should I start the proccess on buying a new home. I have had some credit problems and trying to rebuild my credit. My scores have come a long way and hoping and praying for a medium score of 650-700 soon. I have seen a wonderful new subdivision and the house I want is being built and will be finished give or take 5months from now. I want to try for a fha home loan but was told by someone that I could not apply for it because i was late one time on my current mortgage within the last 12 months is that true.

Thanks,

Looking4help

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not true.

automated underwriting can still aprove you..... but if it doesnt, then you will need to have a 12 month clean history to go thru a manual underwrite.

[Anonymous]

Hello,

Thank you, Dallas loan guy for your advice. I am so glad to hear it maybe I have a chance to get my dream home. I made the mistake of talking to a realtor at the building site an filled out an information card. They have been worrying me today about the next step. I don't want to run the credit right now because my scores are not that great. They are TU 648 EX 599 EQ 557. I want to wait until the medium score reaches 650. What should I do???????

Thanks

Looking4help