Go Back To Search Results Question What programs are out there to help someone looking to purchase a home.? Myself and a few friends are looking to buy homes in the future months. However, I was told that your credit score has to be about 620 to even be considered for a homeowners loan. What programs are out there that will help first time homeowners? I checked out the FHA website and actually got confused. What else is out there? Thank you. By rob divine Posted on 04/01/10 Total Answers 4 Answers- There is the FHA as you noted and several state and local agencies that are similar. Yes, you will need AT LEAST a 620 credit score. Anything less and you have no business buying a home as a 620 score is NOT even considered a "good" score. Answer by : Ryan M On Date 2010-04-01 15:47:00 I hope you do not plan on buying one together - that would be a huge mistake. You will also need a minimum of 10% down and 20% is even better to avoid PMI. Answer by : knowitall On Date 2010-04-01 16:00:06 Help them do what? If you are looking for down payment assistance, that doesn't exist. You need to save up 3.5% of the purchase price You also need to have steady employment for the last 2 years Answer by : My Take on It On Date 2010-04-02 02:31:30 If I were you I would find a mortgage lender you can trust. Do research and check references, talk to your friends and family as well. Let a good mortgage lender tell you what are the best programs, because since you have a 620 there are a lot of people who will try to take advantage of you being a lower credit score. Answer by : Brenden On Date 2010-04-05 15:05:43   Go Back To Search Results