Home Buying Qualifications - Not As Difficult as You May Think!

If you're like most people you think you need a stellar credit score to qualify for a mortgage.  Think again, the average range of credit scores among home buyers is between 600 and 749.  Yes, you can qualify for a mortgage with a 600 credit score!

Of course there are other things lenders take into consideration.  They want to see a low 'debt to income' ratio.  If you have credit cards that are maxed out that could be a problem. However, if you make regular payments and pay on time, you might qualify. They also have to see a history of employment. Typically, the will ask for two years of W2s, tax returns etc. 

Even rental agencies want to see a good credit score!  

So, if you have some money put aside for a down payment, some loans only require 3.5% of the home price. If you're looking to purchase a home for $200,000.  You would need approximately $7000.  Pay your bills on time and get ready to live the American dream of owning your own home!

I can introduce you to lenders who can give you an idea of how much home you can qualify for!

I'd love to speak with you further about how you can own your own home.  You can contact me, Donna Andreano at 843-256-3348 or email me at donna.andreano@agentownedrealty.com