My fiance and I are trying to buy a home for 259.500 his score is 560 and mine is 566 can we qualify for an fha in TX?

No way you will be able to get a mortgage with those scores unfortunately...you really need to be in the 640 range before you will qualify without having to worry. Also, in a two borrower situation they are going to use the lowest middle score of the 2 of you. Each person has three credit scores and they toss out the highest and lowest then use the middle score, so whoever has the lower middle score between the two of you is the one the lender is going to use. You should get with a local mortgage broker, stay away from the big banks loike BOA, and have he/she pull your credit and give you advice on what you can do to improve your scores with a goal of purchasing a home. It's likely going to take you more than 90 days to improve your scores by 70-80 points and be where you need to be. Good luck.

Good Morning. Yes, you need to get your score up to a 640. I offer a credit restoration/ repair at no cost to you whatsoever. It's not a quick fix, but you should be able to purchase in the next 120 days. Shoot me an email and we can get the process started.

Your putting the cart before the horse.. You need to improve your credit.. With a 560 score, it's not going to be a fast fix.. so you need to let go of that home.. get your credit taken care of, then start looking once your loan is in place... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Hello. I am able to lend in Texas with a mid score of 620. The reason for the lower scores sounds like open collections and no accounts open that are paid as agreed. If the stu loans are delinquent or in default, you may have to wait anywhere from 1-3 years after they are cleared up, depending upon whether there was a student loan claim paid or not. We do have the ability to do 'Rapid Rescore' and I am currently using it for several clients right now. I would need to see your actual report to determine if that is the proper option for you or not. I also have access to a very successful 'Pay for Performance' credit repair company. Other than the $299 set up fee, you do not pay until items are deleted/corrected. Call me if you want more info.

Stop. Do not pass go. Do not Visit a bank! Instead locate a local Mortgage Banker/Broker that has a reputation for assisting with credit profiles. There are many companies like NOVA Home Loans that understand the importance of assisting clients in their efforts to improve their credit scores. We have our own internal credit department staffed with individuals that have come from the Credit reporting industry. Their responsibility is to take folks like you and map out a quick plan to get you where you need to be. Depending on what is in your report will determine if this is a 30 day fix or a 120 day fix, or longer. I'm not in Texas, but there has to be someone like us where you are. Good luck. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Good Morning. I offer my clients a credit restoration/ repair service at no cost. It's not a quick fix process, but in the next 4 months you should be ready to purchase. Give me a call and we can discuss it further. 972-843-5888-Will

I have a credit repair program that will get the scores up to 640 or better.....or it's free. It will take on average 4-5 months depending on how many trades need repair. Every one of my customers that I've put into this program have had success and I get them financed. Call 817-741-7521 office or cell 817-760-8544. Quentin Tate - Sr. Loan Officer w/ Supreme Lending in Keller/Southlake area of DFW.

Asia, you need to bring your scores up for both you and your husband. I can handle FHA loans with scores as low as 620 but FHA doesn't allow borrower's scores that low. Check out my blog "First Steps" on this website for suggestions on how to improve your scores. A credit repair service may make sense depending on the reason for the low scores. Your scores may be low because you aren't using credit to have positive info reported to help improve your credit profile. You may need to open an account or two before you see significant improvement in your credit and have enough credit references to qualify. I can help you in Texas but you'll likely need to wait and work on your qualifications before you can qualify. There will be other homes that you'll want.

DO NOT DO NOT, i repeat do not d0 trade lending, totatlly illegal, and undewriters can figure it out very easily... i can refer you to a credit restoration company that is nationwide.. and they will take a few months to complete, but far less expensive than most .. as loan officers we were allowed a long time ago to help clean up credit , in fact even back in 2010 most lenders, and i was with a very large lender , would alllow us to submit to the credit bureaus to rescore ,and help clean up their reports , but no longer it is a practice. linda yourloanpartnerforlife@live.com

You will certainly need to get your scores up.

Hi Asia,I can help you with getting your score up as the Travis suggested,. Here is my email. I will be glad to help. leticia.botkin@supremelending.com

There is no silver bullet to raising your scores in a short period of time. A lot of companies say they can but buyer should beware. The best way is to build it over time by getting secured lines of credit (credit cards) and using them sparingly. For instance if you get a $500 line, put $40 on it max and pay it off completely every month. Over the next 6 months you should see your score start to rise to where you will meet the minimum score requirement . Do this for both you and your spouse.Ken Baltes, American Security Mortgage.

Probably not. You should work on your credit. I work with a great credit repair specialist if you want the info.

All these answers look correct and they are. Only thing I can add is maybe you can buy this house or a different house on a Contract for Deed. The hard question is why is your credit score so low, and can you afford the house payment. Lenders don't care how much you make, they want to make sure you are mature enough to make the payments on time. This is a hard lesson to learn, but in 3-6 months after making your payments on time you can get a new house. Good luck. I bet the house you do find in the future will be better and you'll be less likely to take it for granted.