What are my chances of being approved of a home loan?
The key to financial power lies in your credit rating. If you plan to get a home loan, save money and get better credit starting now!
I have a credit score in the mid 500s, which was affected drastically by stupid things I did 4-5 years ago (beginning of college). I have a stable job although I plan to sublet to take care of the mortgage in a college town. I would also make a down payment of about 20%.
What are my chances of being approved of a home loan?your debt and income will determine the chances of being approved a home loan
What are my chances of being approved of a home loan?Slim and none but keep lookin someone might accept you if you pay a big enough down payment.
What are my chances of being approved of a home loan?About 1 in 750 mostly because of the job
What are my chances of being approved of a home loan?A lot will depend on your current debt load and your income. You best bet may be to look into a Govt. loan such as VHDA.
What are my chances of being approved of a home loan?You have 20% down and stable, verifiable income you should get approved. You will have to pay a higher rate due to the damage on your credit history, but there is a lender out there who will finance you. This is for "owner occupied" property. If you're talking about an investment property, then chances of getting a loan are a lot less. Lenders generally want more equity for investment properties.
Good luck!
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