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I live in maine. I have a score of 594, will anyone deal with us without needing 20% down?

A mortgage broker told us that no bank will deal with us without a score of 620-640. If FHA lends to 580 or better, how do I get a bank to deal with us with my socre being low? Or was what mistaken in what he told me? 
  • September 13 2012 - Bangor
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Answers (3)

I have used a service for clients, Better Credit Now and they did improve credit scores by over 100 points on some clients.  You have to pay them about $250 person and there are some things you must do in order to help them like getting 3 small credit cards that are in some cases secure cards where you use your own money and pre-load the credit card, but they definitely can work.
  • September 13 2012
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You may not be able to qualify for a loan at this time, however a lot of the lenders that we suggest to our clients will help coach them into a better score so that they can become qualified. We are currently working with some clients who had a forclosure on their record, and within a matter of a few months our lender was able to coach them into improving their score enough to qualify for a mortage. My suggestion to you is to ask your agent for a list of recomended lendors in the area, and apply for a mortgage. If you don't qualify at this time just ask them what you can do to become qualified!!
  • September 13 2012
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Profile picture for Cindy Quinton
What you should really consider doing is correcting your credit issues. Unless you have a bankruptcy or foreclosure it is very likely that you can raise your credit scores in a matter of a few months. Go to www.myfico.com and read and ask questions. Trust me it works for me.
  • September 13 2012
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