Yes. If it's too low, you're going to have a hard time getting approved for a FHA loan. Also if you're in debt, the last thing you need is a mortgage.
1ST time home buyers, do you need to have a good credit score? Even if you are putting a deposit down?
You need a decent credit score to get a loan. The better your credit score the better interest rate you will get. If you are thinking of buying it is best to get pre-approved for a laon so that you know exactly how much you can afford.
According to me, You need a decent credit score to get a loan. The better your credit score the better interest rate you will get. If you are thinking of buying, it is the best to get pre-approved for a loan so that you know exactly how much you can afford.
It depends!
There's a few different options available for prospective homeowners
with bad credit. The most common is the FHA loan, but VA loans, USDA
loans, and rent-to-own options are also available. This link explains
all of these in more detail, as well as instructions for securing one
with the help of experts in your area:
