Buying a house with a 589 credit score and student loans?

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It's very possible and with what have stated the real question is why is your score still so low. Get with a lender411 loan officer to help you and it looks like she can do it above.

Good Morning Shawna! Your student loans will count against you now, so the next question is, what can you afford with the assumed student loan payments and any other debt versus your current income. We can figure our your maximum housing budget without your credit score being a concern, but to obtain the best financing, your score needs to get above a 620 and I can help you with that. If you want to start the process of getting your score to a financable level, please contact me through this site. We can talk more in detail and you can decide if you'd like to take the next steps! Thank you and do enjoy the day!

Shawna,We can help you get a mortgage with a 580 credit score, we would need to make sure everything else is in line as well. Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation. Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com We are also proud Homes for Heroes affiliates!

You may want to consider a lease with option to purchase. Call me.

You can find a lender that will go down to a 580, but if your student loan will go into repayment sooner than 12 months, those expected payments will still be calculated into your debt to income ratio. Good Luck!

Different loan program deal with student loans slightly differently, but most loan programs will require you to PROVE what the student loan payment WILL BE once the loans come out of deferment. Then we calculate that future payment into your debt ratio - so they are actually counting against you TODAY. FHA allows them to NOT count against you if you can prove they will be deferred at least 12 months beyond any loan closing date. So even with an FHA loan, the payments will count against you today too. Your credit score is a major issue. The vast majority of lenders will require at least a 640 credit score. While some proclaim to do loans with lower scores - forget what you read and focus on having at least a 640 score before looking for a house. IN MN or WI, visit www.MinnesotaBestRates.com

Shawna what I would suggest is pull your three credit bureaus and determine if there are any derogatories on the bureaus that would be hurting your credit. If so, I would suggest writing to the credit bureaus and questioning the validity. Potentially, you will find that some of the issues will be released from your credit report and increase your overall credit score. In regards to your student loans, try to defer them out for another year, so you will be able to buy more time to get your goal of owning a home met. If you would like to discuss this in more detail, you can always reach out to me. I hope you well.