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is it possible to get a home loan for 190k with a fico score of 595? Income is 120k. No debt beside car payment of 447 a month
It's possible, but would depend on the lender having overlays higher than that score. FHA minimum is 500 though I've never heard of anyone with an approval from a score that low. I would assume that with a 585, you may need higher than a 3.5% DP to satisfy the lender.
@Anonymous wrote:is it possible to get a home loan for 190k with a fico score of 595? Income is 120k. No debt beside car payment of 447 a month
The answer is yes ... BUT ... your file will require the underwriting process to be done manually so you must find a lender that has the inhouse capability to perform manual underwriting.
What is the source of your score and what the other two scores?
@ezdriver wrote:
@Anonymous wrote:is it possible to get a home loan for 190k with a fico score of 595? Income is 120k. No debt beside car payment of 447 a month
The answer is yes ... BUT ... your file will require the underwriting process to be done manually so you must find a lender that has the inhouse capability to perform manual underwriting.
What is the source of your score and what the other two scores?
Score is from my fico. Score is 595 585 578
@Anonymous wrote:
@ezdriver wrote:
@Anonymous wrote:is it possible to get a home loan for 190k with a fico score of 595? Income is 120k. No debt beside car payment of 447 a month
The answer is yes ... BUT ... your file will require the underwriting process to be done manually so you must find a lender that has the inhouse capability to perform manual underwriting.
What is the source of your score and what the other two scores?
Score is from my fico. Score is 595 585 578
I'm assuming that those are MyFICO mortgage scores?
There are lenders out there. Do not submit an application to any until you have it in writing that they have inhouse manual underwriting and that their internal guidelines will accomodate a 585 score. Keep in mind that the score that matters is the one that the lender pulls. Hopefully it would be at that or higher.
All the best.