Of all the questions that we get asked, the most frequent is, "Will I be qualified to get a mortgage?" Whether you are looking to purchase your own home or an investment property, you will need the credit to qualify for financing.
Generally, you are qualified to own a home RIGHT NOW if you've:
1. been at your job or in the same line of work for at least two years
2. your income is sufficient to qualify for the home price range in which you are interested. Here, the general rule is that you can afford to buy a home which is two to three times your annual income. For a much more detailed explanation, visit our recent blog post on income requirements, here.
3. your middle credit score is at least 620. If you do not already know your credit score, you can find it out for FREE here: http://www.lexingtonlaw.com/index.php?tid=143.0.7376118 As we explain here while FHA, itself, has no minimum credit score requirement, the banks that offer FHA mortgages do.
If your credit score is not, currently, strong enough to qualify, we have people who can discuss your strategy for driving up your score. Request that someone contact you here http://www.lexingtonlaw.com/index.php?tid=143.0.7376118
If you already meet all of these criteria, then we can help you assemble missing parts of your home buying team. You will, typically, need:
· a loan officer
· a real estate agent.
· a home inspector.
Let us know how we can help you qualify for property ownership by using this link