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What lenders in the Philadelphia area will work with a credit score of just above 600?

Hi, my name is Juanita and I am looking to get a mortgage as soon as possible. My credit score is low, but I make $32,000 a year and I'm not looking for a huge loan. I found a house that I really like, and it's selling for $55,000.

I have contacted a couple of lenders in the area, but they don't work with low credit scores. Last I checked (in June) my score was 617. Are there any lenders in this area that will work with a first time home buyer who has a low credit score?
  • July 14 2014 - South Philadelphia
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Answers (5)

If you have not already found someone to help you out Juanita, we may be able to help based on your scenario.

  • October 27 2014
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Yes, with that score you can do FHA, certainly have your finances looking sharp as in good money saved up in the bank for the down payment and reserves.  Please feel free to reach out if you have further questions about the qualification process and so forth. 
  • July 22 2014
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Profile picture for Mike Bottaro
Many lenders will go as low as 580. They can analyze your entire financial picture when issuing a pre-approval letter. Not just a credit score. Some have amazing programs for first time home buyers providing them with the security they need when purchasing their first home. Many even have grant money available. If you need an excellent resource:contact information deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
  • July 19 2014
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Feel free to reach out to me Juanita and I'd be happy to help you out.
  • July 14 2014
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Juanita,

That is a huge loan!  Hopefully, it is a house that would not need a lot of work and is ready to move in.  If you would like to discuss your options reach out to me through my profile.
  • July 14 2014
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