Can I get a mortgage with a high credit score but low income?

by issac.schaden , in category: Banking and Credit , 9 months ago

Can I get a mortgage with a high credit score but low income?

Facebook Twitter LinkedIn Telegram Whatsapp

1 answer

Member

by olen , 9 months ago

@issac.schaden 

While a high credit score is generally favorable when applying for a mortgage, lenders typically consider various factors, including income, to assess an individual's ability to repay the loan. Having a low income might make it challenging to secure a mortgage as lenders generally look for sufficient income to cover monthly mortgage payments. However, having a high credit score may work in your favor as it demonstrates responsible credit management. It's important to note that each lender has its own criteria, so it's advisable to speak with a mortgage professional who can assess your specific financial situation and guide you through the process.