What does my score need to be around to get a mortgage for 130,000.00 with no money down for a condo??
2007-08-20 03:10:26 · 4 answers · asked by ignyte 2 in Business & Finance ➔ Renting & Real Estate
A 620 score should qualify you for some good Fannie Mae/Freddie Mac programs.
2007-08-20 09:23:39 · answer #1 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 0⤋
The Fannie Mae Flex 100 is a conforming, 100% financing option and does not have a firm credit score requirement. The credit, income, asset and property information is input into Fannie Mae's automated underwriting system. If you have some assets and a low debt-to-income ratio, you should get approved with a score as low as 620. Good Luck.
2007-08-20 10:59:31 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Probably high 700's to get the mortgage if everything else checks out. Getting a no-money-down mortgage in today's climate will be difficult if not impossible. Check with a variety of lenders. If a realtor is involved, they might be able to help you find someplace to make the loan.
2007-08-20 10:44:22 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
It varies. Talk to several mortgage brokers.
2007-08-20 10:23:11 · answer #4 · answered by hottotrot1_usa 7 · 0⤊ 0⤋