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580 credit score Illinois purchase

Anyone know of a lender who will approve a purchase with a 580 credit score?  Student loans killed me, but I now have them consolidated and making on time payments.  I make over $100K a year now and my score is on the rise.  

I would wait, but we need to buy something now.  
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December 05 2013 - Chicago
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Yes, I work with over 40 lenders, some of which go down to 500. I would be more than happy to help you, you can contact me via my profile and we can get started. 

Ashley Pimentel
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December 09 2013
Yes I know that a few lenders still offer FHA loans with scores down to a 580.
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December 08 2013
I am a Chicago area lender and we should be able to help you. If you have some good reserves in a 401k or savings, we can get you approved. Even if you don't, my assistant is a credit specialist and we might be able to help you restore the credit quickly to get you a better score. 

Contact me and we will discuss your situation. 
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December 06 2013
The reality is the "big box" lenders aren't going to touch you as you don't conform to Fannie or Freddie standards so they'd be stuck with your loan if they give you money and have to service it personally.

That being said, if you have high enough income and assets I know of several alternative options  which may be available to you and I'd love to talk to you more about them privately.
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December 06 2013
That credit score is right around the border. The lowest credit scores lenders like myself are able to do, is a score of 580. So if all your other finances are in place lenders can work with that score. It's also important to understand that you're ability to obtain a loan relies on other factors as well. These factors include income, expenses, assets, liabilities, debt, employment, down payment, as well as credit scores. Either way, I suggest you speak with a lender like myself who would be glad to speak with you to help you get the loan that you need. If you have any further questions or if you would like a loan, feel free to contact me.

Good Luck!
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December 06 2013
If your income is documented & you use a w-2, I have a few lenders that can help you.
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December 06 2013
Your score is fine for lenders like myself. I can actually approve scores down to 530 so your 580 score works great. There are many loan programs but I would need to speak to you to figure out the best program for you. Lower credit scores are tougher to get done and it takes an experienced loan officer to make sure these loan types make it across the finishline. If you would like my assistance please contact me through my profile page.

Thanks
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December 05 2013

Hello:

I should be able to help you. We work with scores as low as 580.

SMC works with over 30 lenders to help you get the best possible financing.  We specialize in FHA, VA, 203k renovation loans and Reverse Mortgages for refinance and purchase too!  Were other banks require a 640 and above score to help with financing, our lenders will go as low as a 580 score on an FHA mortgage.  SMC carries an A+ Better Business Bureau Rating and we have worked in the community for over 15 years!

Please give me a call or send me an email so I can get a little more information from you. 

Best regards,

Patty Harrison
Smart Mortgage Centers

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December 05 2013
You should call up a few different lenders and see. I believe there are a few out there that would.
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December 05 2013

FHA loans will allow a 580 fico score.   Just make sure the lender you talk to doesn't have their own internal guideline.    I am sure there will be lots of other replies soon from lenders who can do it. Then you can contact them through their profile.

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December 05 2013
 
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