Hello! My husband and I are thinking of buying our first home somewhat soon. I just ordered my credit report and checked my FICO score through Equifax. My credit score is currently 678. On the main display page of my score report, it said that qualified as a "Good" rating. However, when I printed the report, the rating suddenly changed to "Poor" (but the number was the same).
Do you think I'd be able to qualify for a home loan with my credit score?
Other pertinent information about me:
-- I had two collections, but both were paid in full some time ago. One was a small retailer credit card balance from 2004 -- at the time I was unmarried, making very little money, and living with a roommate who couldn't afford her half of the rent (so I ended up paying it for her). I paid that balance in full as soon as I was able. The other was a medical bill incurred around the same time; it has also been paid in full.
-- My husband's credit score is slightly higher than mine.
-- We have $20,000 saved for a down payment.
-- We both have steady jobs and together make $87,000 per year. He has worked for the same company for 11 years; I've been at my company for over 3 years.
-- We have no debt. We pay off our credit cards each month.
-- Neither of us has taken out a loan before. (We've always bought used cars and paid cash for them.)
-- We live in California. We'd probably be looking at houses in the $250,000 price range, but that's adjustable of course depending on how much we qualify for.
Thanks for your advice!