CT asked:


I need help from people in the Business… I live in Elk Grove, CA, and with the home prices so low these days I am interested in owning my own home. I have a credit score of 700 and have zero debt, all I pay monthly is my auto insurance and my rent. I do however have an account that went into collections six years ago, the amount was for 2,000 from an old credit card. I have been working at the same job for 7 years and combined with my girlfriend we make 55,000 a year. My girlfriend has a credit score of around 720 and has no late or anything on collections, but has about 7,000 of debt. Do We qualify for a loan? We have been looking at homes in Elk Grove around $150,000.

MCNAIR

3 Responses to “Do I qualify for a Home Loan?”

1. Judy on October 28th, 2009 6:21 pm

   You might have a shot at getting a mortgage. Do you have money saved for a down payment? You’ll probably need that.

   Talk to your bank and ask to be prequalified. They’ll look at all of your info, and tell you what kind of loan you’d be eligible for.

2. Reena on October 29th, 2009 6:58 pm

   For mortgage before you go out house hunting good chance but would concentrate on getting your girlfriends credit card debt reduced best thing to try to do is to do is to try to get prequalified for mortgage before you go out house hunting.
   For mortgage before you go out house hunting good luck.
   For mortgage before you have good chance but would concentrate on getting your girlfriends credit card debt reduced best thing to do is to get prequalified for mortgage before you have good chance but would.

3. Karl G on November 1st, 2009 9:54 pm

   Try getting a free online auto loan quote. The automated questionairre will give you results based on your credit and financial situation. It’s free and you can get an answer in minutes.