Profile picture for user66051094

Can I get a mortgage with a credit score in the 500s?

  • September 09 2013 - Montgomery
  • 1
    1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (5)

Profile picture for BartGabe
We go to 500 with 10% down. You need to have at least 3 tradelines that have been current for the past year. Contact me through my profile.
  • September 09 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Well where in the 500's is your credit score. There are lenders like myself that can give out loans with credit scores as low as 580. If that is still above your credit score I would recommend working on it. The most effective way to fixing your credit score is to pay your revolving credit card balance and debt. If there is a collection on your credit there isn't much that can be done in the short run. It is best to pay back any collections as soon as possible. So as time goes on the collection will become more insignificant to your credit score and will help it return to a better score. I would recommend that you speak with a lender like myself so that we can try to help you out with more of your financial details and point you in the right direction.

I hope this helps! Also, if you would like a loan don't hesitate to contact me!

Good Luck! 
  • September 09 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

work on getting your score closer to 600 as mentioned below. My company doe shave programs for loans as low as 580 but work on increasing your score.

Good Luck!
  • September 09 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Andrew Malak
No. No matter what they tell you. It has to be over 600.
  • September 09 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Typically no.  different programs have different requirements.   Generally they are 600, 620 and 640.

The trick to get your score up is to have no late payments in the past 12 months and have at least 3 trade lines (Creditors) reporting a good history.

Secured credit card or bank loans loans secured with a CD will generally do the trick.

-Troy
  • September 09 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.