my credit score is 760, is that good even though I'm single to buy a house in the 150000 to 200000 range?

Answer 1

That's a good credit score, but that doesn't determine what loan amount you might be eligible for. Contact a mortgage company (actually, meeting with more than one and comparing interest rates and fees is the best idea) and have them either pre-qualify or pre-approve you (Pre-approval is different than pre-qualification - if you are pre-qualified, that just means that it seems like you can buy a hose for what ever amount; when you are pre-approved, they actually input all of your credit info, income info, tax info, etc. and find a solid, definite amount that they will agree to loan you). If you're just thinking about it, being pre-qualified will give you a ballpark idea, but if you've already been looking and are ready to buy a house as soon as you find out your price range, you'll want to be pre-approved.

Answer 2

Ill tell you off the bat that with a 760 you can afford a home at 100% financing up to $500,000. I love these clients easy going and easy to find financing for. 760 means you pay your bills on time and you have established seasoned credit. Also with a 760 you can go full doc(2 year employment W2 employee), stated (self employed 1099). You can even not stated your income if you wish and you can even not stated your employment. Crazy but true. Some lenders will even credit you because you have a great credit score and you are a great portfolio client.

Check out a couple banks and mortgage brokers in your area. Stay away from online lending tree's unless you want telemarketers calling your phone number for the next 5 years. I still get these phone calls and laugh.

Answer 3

It's not all about the credit score that is played into the factor.... I would consult a mortgage lender and not just one... at least 2 or 3 each of them will offer you different things. I would think you would be a approved... buying a house is a lot easier than buying a car if that helps! Good luck on becoming a new homeowner.

Answer 4

Having a good credit score mean you're a "good risk" to a lender.
Examine your finances and business goals carefully. Since you mention the price range, you may have already gotten a quick pre-approval. Look at houses throughout that range. Try not to buy at your highest range. Property taxes and homeowners insurance go up, and make up 1/3 of your montly payment. Your realtor is going to find the houses you direct her to, but remember she only makes money if you buy one. New homes are priced much higher than similar pre-owned homes. So narrow your choices, stick to your budget and enjoy the process.

Answer 5

You still have to qualify for the loan from a lender. This includes income amount, job stability, and other requirements set by the lender. If I were you I would go to a lender and "Pre Qualify". Then there are no questions unanswered and you can choose a property that fits the amount of your loan. It is also a great negotiating tool. For example if you are pre qualified for 175,000 and a property is listed for 199,000 you can usually negotiate down successfully because your loan is guaranteed. This will save the seller a lot of grief, since many buyers will make a bid on a property without knowing if they qualify or not.

Answer 6

Yes, 760 is good, but it isn't the only factor in the decision. You also need to look at your debt ratios. In other words, how much of your income will go toward the house payment, as well as how much of your income goes toward all of your debt.

Looks like you are well on your way. Good luck!

Answer 7

sounds good to me, but i'm not a lender. find out how much of a house u can afford by going to a lender, they will give u the best answer, then go from there.

Answer 8

Probably. Go get preapproved from a mortgage company so that you will know how much you can afford before you go house shopping.

Answer 9

It also depends on how much you make and how much money you have to put down on the house.