Credit score 600, have 20% Downpymt,over 100k salary but DECLINED

[Cynthia Walker]

Very frustrated... we have fair-poor credit, excellent employment, and want to buy a house $399k, can put up to 20% down, buying a primary residence, but cannot get even a pre-approval letter.  What are we doing wrong? We are able to pay off necessary items to rapid rescore over 620 but still cannot get a pre-approval letter for our dream home that’s about to slip away today.  How do people who have the same credit, more debt and much less income buy houses???

[Alexander Felice]

take the time to fix your credit. you're paying unnecessary interest, and based on your score and impatience to go buy another expensive asset it's clear to see why a bank thinks this is too risky.

be a good money manager first.

I don't know why you think other people have the same credit and buy more house. I have an 830 credit and own half the house you're buying. a 675 score is us AVERAGE, and $400K house is far above AVERAGE. This kind of stretching results in poor credit scores.

champagne taste......