U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 12-21-2011, 09:24 AM
 
Location: Cary, NC
116 posts, read 258,433 times
Reputation: 52

Advertisements

I am considering purchasing a condo. I already own a house with a mortgage. I don't plan to live in the condo and want to use it as a rental. Purchase price is $160,000 and I am going to put $64,000 down. I plan to pay it off in 10 to 15 years. Is it possible to get a loan with credit score of 645? Don't care much about the APR.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 12-21-2011, 09:32 AM
 
Location: Plano, Texas
1,675 posts, read 6,809,648 times
Reputation: 697
With that large of a down payment, your fico score is high enough so you should be able to get a loan.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-21-2011, 09:54 AM
 
Location: Cary, NC
116 posts, read 258,433 times
Reputation: 52
Thanks a lot.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-21-2011, 10:35 AM
 
Location: Plano, Texas
1,675 posts, read 6,809,648 times
Reputation: 697
Also...with that much down and that fico score, you should still be able to get a 30 year fixed between 4.5 and 5.0%.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages

All times are GMT -6.

© 2005-2022, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top