Can I get a mortgage if I have a high income but a low credit score?

It truly depends on your score. Your income can not compensate for your credit score when trying to access traditional Fannie Mae or Freddie Mac and all government backed loans as well. What I can say is that I can do loans for people with scores as low as a 560 middle score. The guidelines are different for anyone with a credit score under 620 but you can still qualify for an FHA loan. There are many ways to repair or build your credit. if you'd like to find out more you can call or email us and we'd be happy to help. 201-962-3555 or Team@BestMortgageOption.com.

Maybe... depends on what your credit score is.

unfortunely no in this economy with mortgages.. where did you get your credit score? if you got it online a free site, they are usually credit companies that want to clean your report , so they will score you lower.. you can email me at yourloanpartnerforlife@live.com linda your credit scores..

I would have to have a lot more information than what you have given. It depends on a lot of factors as to what is available to you. It will also depend on if you are looking to purchase or do a refinance on a current home. If you are looking to purchase you can look at owner financing or a lease option situation until you get your credit back above water.Contact me directly at 972-497-2921 or email me at rob.renk@shermanbridge.com

I need more information than you have given to see if there is anything that can be done for you. if you are looking to get a low rate refinance the answer is probably a no because of your low score. If you are looking to purchase you have alternative that can be looked at such as a lease option or owner financing until you can get your credit above water again.Feel free to contact me to discuss possible options with you. Call direct @ 972-497-2921 or email me at rob.renk(at)shermanbridge.com

What is your credit score?

when considering conventional mortgage financing the answer is NO income would not overpower credit scores beneath the qualifying marks. Fannie mae and Freddie mac who set the guidelines for the vast majority of loans do not leave much discretion to the originators. When dealing with local banks that may consider doing a portfolio loan they can make exceptions(if they want to) based on strenghts an applicant may have like high income or substantial liquid assetts. However, most undewriters dont get the warm a fuzzy feeling when looking at a credit profile that has recent late payments. In my opinion credit is fairly easy to repair and that should be your primary focus right now. This way you can secure the best deal.

In today's market, your credit score is going to be a very important factor in determining if you qualify. Even if you have a high income, you can be denied based on your credit card. If you are approved, you will likely have to pay a very high interest rate. You may want to work on improving your credit by paying off any existing debt prior to applying for a loan.