My husband and I have good scores..can we buy house now?

my midle score is 629 and my husbands is 687...can we purchase a home now....or wait until credit goes up cause we want a good interest rate with a 30 ye fixed arm...we found a house 8 years old for 149,000 and a house that is 2 years old for 139,000


3 minutes ago - 4 daysMy husband and I have good scores..can we buy house now?
yes an FHA insured mortgage can work for you so see a mortgage professional as to just how much home you can buy as the debt to income ratio is very important


I am a mortgage banker in TNMy husband and I have good scores..can we buy house now?
do you have the down payment? and I believe due to the recent faux pas in the mortgage industry, a required 10% is again the norm


also would your payments be 25% of your income?


if you think you have some basis, apply, the worst they can say is no
If you can make a 20% down payment and have an annual income of about 1/2 what the mortgage will be you have a decent probability of getting a mortgage. My advice is to buy now if you can while house prices and interest rates are at their lowest point in many years. If your credit score goes up in a year or two you can look into refinancing at a lower interest rate.
you need 3.5% for FHA plus about 3% more in closing costs. if you have the cash go for it now while rates are down.
you could get into an FHA loan with a minimum 3.5% down paymentt. Interest rates are at an all time low.

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