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Started By
Message
What credit score should I have
Posted on 3/30/17 at 4:05 pm
Posted on 3/30/17 at 4:05 pm
Before I commit to a house? I am looking to take out 700k for a 850k house and wondering what credit score I should go in with.
7
Posted on 3/30/17 at 4:09 pm to fareplay
quote:
Before I commit to a house? I am looking to take out 700k for a 850k house and wondering what credit score I should go in with.
Well this is just an obvious bullshite post.
"I've managed to save up $150k in liquid cash but I have no clue how anything in finance works and the first thing I'm going to finance is a jumbo loan on a house."
Completely believable.
Posted on 3/30/17 at 4:10 pm to fareplay
So you have the money to take out a loan that size and have no idea about how credit scores work? Come on man.
Posted on 3/30/17 at 4:11 pm to fareplay
You're looking at a jumbo loan, so I would say 720 or above . Although, you can still find jumbo loans down to 660
Posted on 3/30/17 at 4:12 pm to LNCHBOX
Its not hard to save money if you dont live a lucrative life style
Also her parents are paying the down payment. I have a 760 she has 800, are we going to get approved for minimum rates?
Also her parents are paying the down payment. I have a 760 she has 800, are we going to get approved for minimum rates?
Posted on 3/30/17 at 4:13 pm to fareplay
quote:
Its not hard to save money if you dont live a lucrative life style
quote:
Also her parents are paying the down payment.
You can't even keep your story straight for two sentences.
Posted on 3/30/17 at 4:14 pm to fareplay
A loan of that amount relies on a lot more than credit score, but those scores should be fine for that part.
Posted on 3/30/17 at 4:29 pm to LNCHBOX
Up-fuggin-vote 
Posted on 3/30/17 at 5:00 pm to fareplay
quote:
I have a 760 she has 800
I'll be your Huckleberry. If that's your credit scores, than yes you'll qualify for the lowest rates. $600k is going to be one hell of a note.
Posted on 3/30/17 at 5:03 pm to fareplay
You're fricking retarded if you're spending that on your first house.
Posted on 3/30/17 at 6:51 pm to fareplay
quote:
Its not hard to save money if you dont live a lucrative life style
I think you mean lavish, and living in an 800k house qualifies as lavish.
Anyway, this is such bullshite... How are your in laws smart enough to have gotten to a position where they have enough cash to just drop 150k on a down payment, but suckers enough to do it for a couple of people that don't know how credit scores work?
I mean, congrats if you hit the marital lottery, but Jesus Christ, wtf.
This post was edited on 3/30/17 at 6:55 pm
Posted on 3/30/17 at 6:52 pm to fareplay
I see you hit the rich wife lottery.
Congrats.
Congrats.
Posted on 3/30/17 at 7:44 pm to fareplay
What line of work you in fareplay?
Posted on 3/30/17 at 7:52 pm to Saint5446
Also you should see if daddy in law will give you 170 instead of 150 so you can avoid PMI, lol.
Posted on 3/31/17 at 12:30 pm to Saint5446
I am a analyst for a utility, she is a case manager for a hospital
we live in the bay area, 800k is a starter home.
we live in the bay area, 800k is a starter home.
Posted on 3/31/17 at 1:07 pm to Saint5446
Also you should see if daddy in law will give you 170 instead of 150 so you can avoid pmi
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+1
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+1
Posted on 3/31/17 at 7:40 pm to fareplay
Everyone here thinks 800k buys mansions everywhere. 700k buys a house you have to completely gut that is not even 2000 sqft in my neighborhood.
I don't have the same advantage of my inlaws giving me 150k but if I was in your boat I'd advise you to rent a studio for a year and save up another 75-100k and not get a jumbo loan. It will pay dividends down the road.
Also I believe your story. I didn't realize the difference between jumbo and traditional until I had already saved up 60k and started to do some further research into purchasing our first home.
Also if you are looking for a condo and think you can finance that much you are in for a rude awakenening.
I don't have the same advantage of my inlaws giving me 150k but if I was in your boat I'd advise you to rent a studio for a year and save up another 75-100k and not get a jumbo loan. It will pay dividends down the road.
Also I believe your story. I didn't realize the difference between jumbo and traditional until I had already saved up 60k and started to do some further research into purchasing our first home.
Also if you are looking for a condo and think you can finance that much you are in for a rude awakenening.
Posted on 4/1/17 at 8:47 am to BACONisMEATcandy
You should shoot for a score somewhere between -227 and 480. Should be fine coming in anywhere between those two numbers.
Posted on 4/1/17 at 1:33 pm to GFunk
What on earth did I say to get the downvotes I got? 
Posted on 4/4/17 at 12:48 pm to BACONisMEATcandy
Yeah I don't want to deal with 600 hov
In my area 800 is a 2b2b with 1300 sq ft..
In my area 800 is a 2b2b with 1300 sq ft..
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