Can you purchase a home with a credit score of 597 with no money down but have tax issues?

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It is possible but will require "creative thinking" on your part and your REALTOR. Possibly you could find a seller willing to sell by using a Contract for Deed agreement.
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Can you get a mortgage with no money down with a credit score of 577?

No, you cannot get a mortgage with 0 down with a credit score that low. Sorry Yes you actually can. Under certain government loan programs you can get a 0 down mortgage with a low credit score. For instance I had a middle score of 525 and applied for a VA loan, which requires 0 down payment. I had ( Full Answer )

If you purchase a car just before buying a home will that affect your credit and the amount they will loan you if you have credit scores around 675?

Anytime you are asking for a loan of any size, including a mortgage loan, then they will take into consideration everything that you owe. So yes, if you owe money on a car, they will take that into consideration. Now, it is impossible to say whether that will tip the scale one way or the other. It j ( Full Answer )

If you filed bankruptcy 18 months ago but it was dismissed and now you would like to purchase a home and your credit score is not that great what can you do?

Answer . A bankruptcy, even a dismissed bankruptcy, will lower your credit score 75 to 150 points. There's really no way to raise it other than by paying your bills when due, and time. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my u ( Full Answer )

Are your checking and savings accounts just as important to a lender as your credit score when purchasing a home?

Answer . Yes and no. One of the factors affecting your scenario would be assets and "seasoning", meaning how long have you had the money you have. Being able to document a lot of assets and lots of seasoning can many times compensate for a little bit lower credit score. And assets doesn't necessa ( Full Answer )

How does one purchase a home with poor credit?

Answer . One way to do it is save up money and make a large downpayment, like 20% or more. Money lending institutions feel better if you are sharing some of the risk. Another way is leasing a house with an option to buy it after so many years. Usually, some of the money from the the lease is appl ( Full Answer )

What should your credit score be for a first-time home purchase?

Answer . The higher the score, the cheaper your loan will be. 700+ will get you the cheapest prime rates advertised in the paper. Around 520-620 will get you subprime rates meaning increased fees and or a higher interest rate. Sometimes subprime points and "junk" fees can be as much as 4 poi ( Full Answer )

How can paying down your credit cards lower your credit score?

Answer . \nPaying down your credit cards won't lower your scores-- but paying off and closing the credit cards will lower\nthe scores. You want to show that your cards are not maxed out and you have plenty of room between the credit limit and the balance .

Can you get approved for a home purchase if your credit score is 512 and you have a couple of open collection accounts more than 4 years old?

Answer . You are very unlikely to be approved; moreover, if you are approved 1) you will be offered a very high interest rate in a subprime mortgage, and 2) given your credit history, you are likely to be unable to make payments on your house after a while, ultimately causing you to lose your ho ( Full Answer )

Your credit score is 635 you would like to improve your fico score to purchase a home Will opening three lines of new credit establish good credit in a year?

Answer . Opening three lines of credit will drop your score because it increases your perceived risk. It is impossible for risk managers to immediately assess how you will perform with the new credit availability so your risk goes up and your credit score goes down. It takes a long time to bui ( Full Answer )

Will paying down credit card debt with a Home Equity product affect your credit score?

Just don't close those accounts. It should help your score. Here is a excert from Phil Turner's Credit Bible. Its a good reference to get information about this matter.. Here are points to consider: . 1. Concentrate your efforts on entries in your credit report that's less than two years old. So ( Full Answer )

Can you get a home loan with a 522 credit score?

Every lender has credit guidelines that contain minimum credit score requirements. Most lenders want their mortgages to be saleable on the open market and therefore conform to standards set by agencies such as FNMA. For most standard mortgage programs a 522 credit score is too low. There are program ( Full Answer )

If your credit score is 588 make 70K and your a first time buyer should you wait to increase your score before purchasing a home?

Generally, you should work to improve your credit score whether buying a home or not. Other factors can/should weigh in here, such as the market (good time to buy now), programs such as the First-Time Homebuyers credit (currently in effect, it is $8,000 if you are below $75K individual income) which ( Full Answer )

Do you have to pay money to get your credit score?

No. You are entitled to 1 Free credit report per year.. From each of the 3 agencies: Esperian, Trans union, and Equifax.. Unlike the 3 free credit reports you can request each year (www.freecreditreport.com), obtaining a FICO score always costs something. Go to www.myficoscore.com to learn more, a ( Full Answer )

Can you buy a foreclosed home with no money down and poor credit?

Unlikely.. Sorry to have to say that because by the nature of your asking the question, I suspect you are wanting to make money by buying real estate foreclosures.. At least here in Texas, when you are buying a house at a foreclosure auction, who pay for the house right there at the sale - cash or ( Full Answer )

When do i get the tax money from the housing tax credit if i amend my taxes?

Assuming you amended your return to request the 1st time home buyer credit it takes the IRS approx. 10-16 weeks to process an amended return. This is because amended returns are worked differently. They are actually "hand" done, meaning a human being looks closely at the 1040x (amended federal retur ( Full Answer )

Does your credit score go down if you do not use your credit card?

Generally, no, your credit score will not be reduced if a credit card that you own is not being used. You don't, however, want to cancel the card - cancelling a credit card (whether voluntary or forced by the issuer) does reduce your credit score.

How does an unmarried couple that purchased a home together file for tax credit?

You may claim just one credit between the two of you. You may divide the credit using "any reasonable method" as long as both of you are eligible to claim the credit. If one of you is not eligible, it is OK to assign the whole credit to the other one who is eligible. The IRS discusses this in Not ( Full Answer )

What can bring down your credit score?

you credit score will go down if you are not paying your monthly bills on time, in order for you to increase your credit score you have to pay your credit bills on time or in full.

Can you purchase home with a 520 credit score in 2009 with 15000 down and the home being only 165000 in GA?

Well I am an underwriter in Georgia and I can tell you it is very hard these days to get a decent mortgage with a credit score that low...however....if your score is low due to errors or a bankruptcy that has been discharged..you can provide "alternative" credit references to build a "non-traditiona ( Full Answer )

Can you buy a home with a credit score of 518?

Yes. there are several ways to buy a home with bad credit. one of them is to homeowner financing, you can find deals on the newspapers, craigslist, and many other sources of information.Also, through an real estate investor, the real estate investor qualifies you as long as you have enough money for ( Full Answer )

Can you get a home loan with a 628 credit score?

Yes as long as you mid score is at least a 620 but you better hurry. I know of several lenders that have have increased the credit score requirement to 640+ for FHA loans

Where to purchase a good credit score from someone?

You cannot purchase your personal credit record from someone else. It is your credit history that has been reported by your creditors to the central credit data gathering agencies. It's like asking, "Where can I purchase a good dental record?"

How do you get the 6500 home buyers tax credit?

By meeting all of the rules that have to met to qualify for the FTHBTC and completing your income tax return correctly and attaching all of the required documentation that is required for this purpose to your correctly completed income tax return and mailing the income tax return to the correct IRS ( Full Answer )

How bad is a 597 credit score?

597 isn't bad but it isn't good either it's a little below average actually. (the National average is 680)

When will you be paid your home buyers tax credit?

If you file a complete and accurate paper tax return and mailed it to the correct mailing address, and the IRS accepts your income tax return as you filed it then your refund will usually be issued within six weeks from the date it is received and accepted by the IRS. And of course as you are aware ( Full Answer )

How do credit scores determine home loans?

First by determining eligibility: lenders will set minimum scores for their loan programs. Second by effecting pricing: lenders will charge higher interest or more fees for lower (riskier) credit scores.

Does checking you credit score make that score go down?

Every time you check your credit or have it ran for a cellphone or car loan or any way of checking your credit score it puts a ding on your score. That's why if you check it multiple times it will drop slowly

Can you get a home loan with a 622 credit score?

You can get an FHA loan with a 622 score, FHA loans have lowercredit requirements than traditional loans. You should go to TheLenders Network they will be able to refer you to a couple lendersthat can help you out. Hope this helps.

Can you get a 6000 dollar loan with a 597 credit score?

That depends on the merchant, that your applying for the loan at. It's the merchant that makes the decision on approving/declining a loan. 597 score is probably consider high risk to the merchant because you probably have high balances and some slow payments on your credit bureau file. It's a 50/50 ( Full Answer )

Can you get a home with a credit score of 600?

That's below good, so you would need someone else's credit to qualify. There are repair companies that might be able to help you boost your score enough to qualify-speak to a loan officer and have him run it and he will be able to tell you what you have to get rid of off of there just by looking at ( Full Answer )

Can you buy a home with a credit score of 624?

Most lenders require a minimum credit score of at least 640 in order to approve you for a mortgage. There are lenders which will do scores under 640, but they will require a higher down payment and give you a much higher interest rate. I would advise you to bring your score up 16 points to 640 befor ( Full Answer )

How do bad credit home loans affect credit score?

Bad credit home loans don't directly affect a credit score. However, they can cause the interest rate to be higher and thus will make mortgage payments higher. This can increase the likelihood of missing payments in the event of not enough income to pay the mortgage and adversely affect a credit sco ( Full Answer )

What causes your credit score to go down?

Late payments will do it, so will missed payments. Exceeding your credit limit without authority and increasing your credit limit without paying off your existing balance will all affect your credit score. Managing credit responsibly means paying off your balance before using the facility again, and ( Full Answer )