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Do anyone know of any Lenders that would loan to someone 2ith a 627 Credit Score?

I'm in the market to purchase a home with 3% down but I had a bankrupcy and was discharged back in 5/2009. I've nevered rented before (still living at home with parents). My mom would go on as a co-buyer and she has a 720 credit score but she wants me to be the primarly purchaser to allow me to feel it's my home. As for me it don't matter whose first. Can someone direct me to a lender that could finance me? I've been thru Lending Tree and Quicken Loans. Everyone wants me to do this credit program and I dont trust that they would help me. Some please HELP!

  • August 06 2013 - Compton
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Answers (7)

I just originate in California, and this should be no problem.  Get in touch through my profile if you have other questions or would like to discuss what I can offer you.
  • August 07 2013
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Depending on the state your in.... I could help you.  620 is our low end on credit score.  Regarding credit repair.....Not all credit programs are bad but its definitely not for everyone.  
  • August 07 2013
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We have programs that go down to 560. My advice is if you don't need your mother's income to qualify then don't put her on the loan as then you may need to classify the property as a 2nd. home or investment property and that will result in lower loan to values and higher interest rates. With a 620 scores we can still offer great rates and great programs with just you on the loan. Contact me through my profile if you would like to go through some options.
  • August 06 2013
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Profile picture for Botts_17
Thank all of your for your assistance. I think I will try to continue to work on my credit score first by passing off all my credit cards then maybe start looking. I did however get some offers but and saw it is feasible, but I'm not sure if I'm ready
  • August 06 2013
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Your 627 credit score should be just fine to purchase a home with 3% down.  I think if you find the home you want, buy now and as Sally suggested, keep working on your credit score.  Since it would appear that you qualify now, there is no reason to enter a lengthy credit repair program while you sit by and watch rates go up and your dream home get sold.  Contact me if you would like any more advice or assistance. 

Good luck!
  • August 06 2013
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As long as you have been on time with your accounts after the BK discharge you can be considered for an FHA loan. There are a couple lenders that will loan at your credit score, but it is a very tedious process. Credit programs is because their minimum credit score is probably higher than 627 and they require you to get it up before you start. You can message me if you would like more information about getting pre-approved. My lenders do loans in California.
  • August 06 2013
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Profile picture for Sally English
Even if you do find a lender who will make the loan, my advice would be to continue to work on your credit score.  Buying a home is just the first step in home ownership.
  • August 06 2013
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