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I have potential buyers for my house. I want an educated guess...?
...if they'll qualify based on credit scores. His is 518. Hers is 712. They own other property,and have the downpayment, and please list your experience with this for earning an extra 10 points.
4 Answers
- Steve DLv 77 years ago
Going to be tight and will really depend on income and who earns it. The 518 by itself would disqualify them almost immediately, The 712 helps, but the average is under 620 - most lenders want 640.
- YahooDeanaLv 67 years ago
Ask for a pre-qual letter and call their lender to verify information - or have your agent do so. That helped us decline an offer once in a similar situation.
Removing their financing contingency is a great idea - as was suggested by BBG.
- BBGLv 77 years ago
You could ask for a pre-qualification letter prior to accepting their offer or you could counter their offer by removing their financing contingency.
- LandlordLv 77 years ago
No, they will not qualify. If her income is high enough and they do not co-mingle funds she might be able to buy by herself.
