Can I buy a house with 487 credit score?

Can I get an apartment with a 487 credit score?

A 487 credit score is a poor credit score. It makes it very difficult to qualify for credit or even apply for an apartment but it can absolutely be improved.

How can I improve my 487 credit score?

Making timely payments and avoiding “maxing out” the card will promote improvements in your credit scores. Pay your bills on time. There’s no better way to improve your credit score. Among consumers with FICO® credit scores of 487, the average utilization rate is 113.1%.

Can I buy a house with a credit score under 500?

The Federal Housing Administration, or FHA, requires a credit score of at least 500 to buy a home with an FHA loan. A minimum of 580 is needed to make the minimum down payment of 3.5%. However, many lenders require a score of 620 to 640 to qualify.

Is 487 a good credit score UK?

Their scores range from 0-999. A credit score of 721-880 is considered fair. A score of 881-960 is considered good. A score of 961-999 is considered excellent (reference: https://www.experian.co.uk/consumer/guides/good-credit-score.html).

How much income do I need for a 200k mortgage?

A $200k mortgage with a 4.5% interest rate over 30 years and a $10k down-payment will require an annual income of $54,729 to qualify for the loan. You can calculate for even more variations in these parameters with our Mortgage Required Income Calculator.

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How do I know if I qualify for FHA loan?

How to qualify for an FHA loan

  1. Have a FICO score of 500 to 579 with 10 percent down, or a FICO score of 580 or higher with 3.5 percent down.
  2. Have verifiable employment history for the last two years.
  3. Have verifiable income through pay stubs, federal tax returns and bank statements.