667 Fico score, chances of being approved for mortgage?
My credit score is 667 and I make approximately $ 23,000/year. I am looking to buy a house in foreclosure in Indiana for approximately $ 40,000-$ 60,000. What are the chances I’d be approved for a mortgage based on my Fico score and income?
Due to my low income, if approved for a mortgage, I would qualify for down payment assistance and an interest free loan up to 20% of the home cost, as well as the tax credit on next year’s taxes so I’m hoping I have a shot at getting approved.
By the way, I have found several houses in this price range that I’m interested in.