Is there a chance of getting a mortgage?
Posted 26 April 2012 - 09:43 PM
I am currently trying to get approved for a mortgage, The house is $83K but I only need the loan for $65K, my three credit scores are 631, 580, 555. I do have several blemishes on my credit report including a couple of judgements, but no bankruptcy. I am also self employed and have shown around $30K a year gross income for the last 3 years. Is there aby way of possibly getting approved for an FHA or other form of mortgage loan. Also I do have a cosigner that makes about $55K a year with $1500 monthly debt. Thank you for any help you may give.
Posted 27 April 2012 - 09:54 AM
You also need to look into what is causing your scores to be that low. Do you have charge offs, collections, or judgments? If so, those might need to be taken care of before getting a mortgage approval.
Posted 27 April 2012 - 12:28 PM
Posted 28 April 2012 - 09:45 AM
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