Posted on: 15th Apr, 2010 08:46 am
hello, i have a credit score of 560 a full time job and want to get a mortage loan for my first home purchase it seem nobody wants to do anything. i am paying rent of 860.00 a month right now and it is crazy when i could buy a home and have a lower payment and have something in the end but nobody wants to give ya the chance. what do i need to do to get my score up to a 620 like everyone says. i am a single mother just trying to let my children have a nice home. is there any type of assistants for a single mother to be able to get a loan?
There is no "assistance" per say, but there are handful of local lenders willing to go below the 620 standard credit mark. First, we need to figure out why your score is a 560 and then we can make suggestions as to how to raise it. There are programs for 580+ credit with just 3.5% Down Payment in select states. I hope this helps...