I have an average credit score of 695 and make 50000k a year what kind of home loan can i qualify for.

That's not nearly enough information to be able to answer your question. Qualifying for a mortgage requires reviewing income, assets, employment history, credit score and credit profile just to name a few. If you want to find out what you qualify for, the only way is to apply with a qualified mortgage loan officer.

There are several different types of home loans you could potentially qualify for. To find out for sure you really need to apply for a loan.

I have to agree with my fellow lenders- this is a question that will drive a mortgage consultant crazy- You need to spend time going over a full application in order to get programs, rates and closing costs that adhere to your exact needs and qualifications. The credit is good enough for just about any mortgage program but we do not know if your debt out weighs your income or if you have had a bankruptcy with in the last two years and so on and so on. Pick a local lender that you can either speak with in person or have a valid phone conversation to figure out your best options after reviewing a complete loan application along with all your income documents.

Credit tips that can lower your mortgage interest ratesHaving a good credit score will likely mean a better interest rate on your home loan. Lenders view borrowers with higher credit scores as lower risk compared to borrowers with poor credit history.If your credit is less then perfect, here are a few things you can do to adjust your score and become more favorable to a lender.Pay off all past due balances and charge-offs that have occurred within the past two years. Charges older then two years have little effect on your current credit score.Don't close existing credit card accounts, even if you do not use them. A portion of your credit score is based on your credit history and leaving them open gives you the benefit of the history they represent.While it might not be possible to pay off all credit cards, it might be possible to adjust the debt on some of them so you keep your debt below 30% of the available credit on each card. If not, see if the credit provider will increase the amount of credit so your balance is below 30% of the limit.Obtain your credit report at least a month in advance of applying for a loan. If you have items showing up on your credit report that you know have been paid, request that these items be removed. Credit bureaus normally work to fix the report within 30 days if a request is made.If a married couple applies for a loan and one spouse has better credit than the other, that individual can be designated as the sole borrower on the loan, but ownership of the home can still be put into both names. Doing this could decrease the interest rate, but it could also change the amount you will be approved to borrow.

hi there: May I ask if you plan to put down at least 3.5% ? Are you currently renting? What is the amt? What is the new max mortgage amount you feel would feel comfortable with? If interested, you are welcome to contact me for discussion and going over your debts etc for an underwriting approval. Mike (703 505 5300)