Posted on: 01st May, 2010 04:24 pm
how do i go about it?
With a credit score of 595, it will be difficult for you to get a mortgage. You can apply for FHA loans and check out if the lender agrees to give you a loan. Generally, in order to get a FHA loan, you would require a score of 620.
Hi,
It is true that it is difficult to get a loan with a credit score of 595 but there are lenders who provide loans with low credit. You need to do a market research to get a good lender. However, the lender will also check your source of income and credit history before giving loan. You can also apply for a FHA loan. FHA loan is one of the most easiest loan to get because of extremely flexible requirements and it has low down payments. For an FHA loan the lender will check your credit score, income, employment status, assets and debt-to-income ratio. The minimum credit score required for an FHA loan is 620. Think about the options and decide accordingly.
It is true that it is difficult to get a loan with a credit score of 595 but there are lenders who provide loans with low credit. You need to do a market research to get a good lender. However, the lender will also check your source of income and credit history before giving loan. You can also apply for a FHA loan. FHA loan is one of the most easiest loan to get because of extremely flexible requirements and it has low down payments. For an FHA loan the lender will check your credit score, income, employment status, assets and debt-to-income ratio. The minimum credit score required for an FHA loan is 620. Think about the options and decide accordingly.
Do some research with online lenders. Try a few online quting sites and see what they turn up. they're fast, free and easy to use so there's no real reason not to.
If your credit is a real problem then you'll probably want to look into hard money lenders.
If your credit is a real problem then you'll probably want to look into hard money lenders.
Do your research. I know several lenders that can lend down to a 580 credit score.
