Mortgage Loan with Judgment?

Hi

I have a Judgment(paid) I am in a process buying a house. MY TU and EX score is 650 with no public record. However I have a public record show on my EX report and the score is 580.

My question are can I get a mortgage loan, with a judgment show on my EX report? last year my salary is 165k. I am currently have a decent job with a good salary. I also plan to put 50% down payment.

Thanks

JD

If the judgment is paid, I don't think you will face any problem getting a FHA loan. However, you need to have a credit score of 620 and above for such loans. But since your middle score is 650, it will not be a problem.

Thanks for the info. Also is there any restriction for FHA loan? income?. Will the bank denied me, because there is a judgment on my Experian report?

As answered above, since the judgement is paid and your other two scores are 650 and with 50% down you should not have a problem.

I'm a nationwide loan officer. I work for a credit union that lends in all 50 states.

Have you spoke with a lender yet?

Have they ran it through Automated underwriting yet?

If it has been ran through automated underwriting for FHA loans and it is approved, then you should be fine. Make sure it is showing on your credit report that it has been paid. If not, you will need to get something from the county showing it was paid.

Depending on the age of the judgement and if you have any other derogatory info, the underwriter might request a letter of explanation wanting to know why you had the judgement.

I hope this helps.