Buying a home together?

Question

My SO and I are wanting to buy a home together. What kind of credit do you need to get a home loan? If wrong group redirect me!

Answer

When we were looking 700+ was what most banks wanted and applications for houses asked too and is a deciding factor for many sellers. I’m sure there are banks who work with lower scores but it will come up in a few spots

Answer

You’ll need decent credit and they’ll take a look at your debt.... our lenders called us a refreshing dream because of our numbers.

Answer

You can try an fha home loan I think 600 credit score is the minimum but I could be wrong. Only 3% down is required is what I can remember. If you can do 20% down and have about 700+ credit score you could do a conventional loan which would be recommended.

Answer

In Canada 600 is the absolute minimum now for a mortgage with a major bank. Not sure about the US or other countries. But for a mortgage with less than a 20% down payment they are more likely looking for 640 or higher. There is a lot of grey area involved in mortgage applications. Every situation in different.

Buying a home together?

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