Zillow Advice: FHA and VA Loans - Do any FHA lenders offer bad credit FHA loans anymore? http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ Zillow Advice | Zillow Real Estate Yes as the previous answers ... http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ Yes as the previous answers have mentioned you need a 580 credit score for an FHA loan with 3.5% down. The rate difference will be minimal compared to someone with a 640 credit score. Usually you do pay slightly more in closing costs.. If you would like to be referred to an FHA lender or two check out <strong><em><u>[hyperlink removed by Zillow moderator due to violation of <a href="http://www.zillow.com/howto/GoodNeighborPolicy.htm">Good Neighbor Policy</a>.]</u></em></strong> Wed, 23 Oct 2013 20:08:00 GMT http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ 2013-10-23T20:08:00Z Yes! There are lenders like ... http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ Yes! There are lenders like myself that are able to give out FHA loans with scores as low as 580. So since you are above that, you will have a better chance at getting a loan. Keep in mind that your ability to obtain a loan relies on other factors as well including income, expenses, assets, liabilities, employment, debt, down payment, as well as credit scores. So I recommend that you speak with a lender like myself that can work with your scores. We would be more than willing to speak with you to help you get the loan that you need.&nbsp;I hope this helps! If you have any further questions or if you would like a loan, feel free to contact me.<br/><br/>Good Luck! Thu, 24 Oct 2013 19:12:00 GMT http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ 2013-10-24T19:12:00Z Yes, there are programs that ... http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ Yes, there are programs that will allow for scores under 640. Most of these programs will have a higher interest rate and or cost. In my opinion, it is well worth seeing if you can improve your scores in the next 30-60 days as it will save you quite a bit of $$ over time. Wed, 23 Oct 2013 22:23:00 GMT http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ 2013-10-23T22:23:00Z Yes, There are some lenders ... http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ Yes, There are some lenders that will require only a 580 credit score for a FHA loan. &nbsp;You will have a slightly higher rate and higher closing costs. &nbsp;There are also lenders that will go over with you what you need to do to get your score to the desired number. If you would like a referral to one of these please just contact me.&nbsp; Wed, 23 Oct 2013 21:13:00 GMT http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ 2013-10-23T21:13:00Z I can go down to a 580 on ... http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ I can go down to a 580 on an FHA loan with the standard 3.5% down or a 530 with 10% down. &nbsp;However, I am only licensed in Ohio. &nbsp;Even if you have the required credit score there are some things that may prevent you from being pre-approved. &nbsp;If you have any judgments or tax liens, they must be satisfied. &nbsp;If you have any disputes on your credit, get them removed. &nbsp;In addition, if you have any collections that are over 2k and are not medical, they must be paid. &nbsp;Hopefully, this helps. Wed, 23 Oct 2013 20:29:00 GMT http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ 2013-10-23T20:29:00Z Hi,The answer to your question ... http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ Hi,<br/><br/>The answer to your question is YES, you can get FHA, VA or UDSA financing with your credit score. I personally know of a mortgage bank that will go down to a 500 credit score &amp; still provide a good interest rate. On FHA loans, you will still need a minimum down payment of&nbsp;3.5%&nbsp;of your purchase price&nbsp;for credit scores down to a 580. Once you go below 580, the minimum down payment increases to 10%.<br/><br/>Please feel free to contact me directly if you have any other questions, I'd be glad to help.<br/><br/>All the best,<br/>Ros<br/><br/>Roswell Moore, CMPS<br/>Certified Mortgage Planner<br/> Wed, 23 Oct 2013 19:58:00 GMT http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ 2013-10-23T19:58:00Z You could wait but by the ... http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ You could wait but by the time your credit reaches the 640 mark, the rate that get today for your low credit score could be the same as you can get for a higher credit score. Rates are REALLY LOW right now and the difference in rate from a 600 score and a 640 score is not that much of a difference.&nbsp;<br/><br/>I also offer a free credit repair service and if I see that increasing your score is something that can be done rather quickly, we will go that route first. I am available to help! Contact me thru my profile if you'd like to hear more about what I can do for you.<br/><br/>Thanks Wed, 23 Oct 2013 19:37:00 GMT http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ 2013-10-23T19:37:00Z Yes, FHA loans can be obtained ... http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ Yes, FHA loans can be obtained with lower credit scores.&nbsp; We offer a program down to 580.&nbsp; the guidelines are a bit tighter, but it is definitely available.&nbsp; What state are you buying in?<br/><br/>Best,<br/><br/>Bryan Wed, 23 Oct 2013 19:12:00 GMT http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ 2013-10-23T19:12:00Z Many lender (myself included) ... http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ Many lender (myself included) would rather help advise you to getting&nbsp;a 640 score in a few months time and offer you a lower interest rate...it is more beneficial to all parties-you save money and the lender has less&nbsp;potential liability. Wed, 23 Oct 2013 19:12:00 GMT http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ 2013-10-23T19:12:00Z Yes, I am able to approve ... http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ Yes, I am able to approve loans with your credit score. In fact I can approve scores as low as 530. Like the comment below states, your total overall credit picture will come into play but I approve low credit score clients all the time. Contact me thru my profile and I will be more than happy to assist you.&nbsp; Wed, 23 Oct 2013 19:12:00 GMT http://www.zillow.com/advice-thread/Do-any-FHA-lenders-offer-bad-credit-FHA-loans-anymore/516420/ 2013-10-23T19:12:00Z