 angela_strzr
Joined: 16 May 2011
Posts: 1
1.25 Dollars($)
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 12376
Location: bloomfield, ct
58.49 Dollars($)
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Posted: Mon May 16, 2011 10:50 am Post subject:
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Angela, I deleted your other post because it was essentially the same as this one.
"Not good" is difficult for anyone to discuss - your opinion will likely differ from someone else's. Let's break it down like this. If your score is 660 and below, then that's not considered "good" credit; it's not so bad, but probably in the "fair" category. Below 620 or 630 is where you'll begin to get into more difficult territory when it comes to borrowing.
That being said, there are still lenders who can do business with someone whose score is that low. Your specific questions ought to be directed to someone who can review your credit and make that determination.
What is a more difficult hurdle for you to overcome is the home's price. At $29900, you'll find that virtually every lender will turn their back on you. I suggest you seek out a local, community-type, lender who might be willing to make such a small loan. A credit union is often a decent source for such a loan.
Depending on other obligations you may have (auto loan, credit cards, etc.) your income may or may not be sufficient. I'd have to think, though, that for the price of this home that your income would be high enough.
It's the other challenges that have to be met in order for you to be a candidate for a loan to purchase that home.
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