Posted on: 15th Feb, 2010 03:22 pm
I had an 804 credit score, now its down to 580-600 (was 540) after some professional help. Problem is, I need to get out of my apartment and wish to purchase a home instead of renting for another year.
Sold my home 8 months ago and have 20k leftover for downpayment.
My question is: Is there any type of financing for someone like me? I hear that FHA takes 620 minimum, and I am so close, but might not clear the hurdle in the next 6 weeks.
Any advice is appreciated.....
Thanks
Sold my home 8 months ago and have 20k leftover for downpayment.
My question is: Is there any type of financing for someone like me? I hear that FHA takes 620 minimum, and I am so close, but might not clear the hurdle in the next 6 weeks.
Any advice is appreciated.....
Thanks
Hi cul,
It is true that FHA loans are available at credit score of 600-620. However, if you have other negative items in your credit report, it would be difficult for you to qualify for a FHA home loan. I would suggest you to contact the local FHA lenders of your area and check out whether or not you would qualify for the same. You can also speak to the lenders of this community and seek a no obligation free mortgage consultation. This will help you know whether or not you would get a loan.
It is true that FHA loans are available at credit score of 600-620. However, if you have other negative items in your credit report, it would be difficult for you to qualify for a FHA home loan. I would suggest you to contact the local FHA lenders of your area and check out whether or not you would qualify for the same. You can also speak to the lenders of this community and seek a no obligation free mortgage consultation. This will help you know whether or not you would get a loan.
kinda odd...it took professional help to get you from 804 to 600? wow.
anyway....there are fha lenders who can work with your score at 600. i see "jay" posting a lot in the last day or two....don't know much else about him....look for him - he says he works with 580 scores and they work out.
anyway....there are fha lenders who can work with your score at 600. i see "jay" posting a lot in the last day or two....don't know much else about him....look for him - he says he works with 580 scores and they work out.
Thanks Bros.
Ya, my sentence structure was lacking. I went from 804 to 540 with bad GF who trashed me on her cosigned mercedes. She voluntarily surrendered it last October. I personaly have never been late on a auto or home payment. My rule is not to pay unscrupulous theives like Verizon et.al. for poor service.
I was talking with Texas Lending, the "supposed" help people but got absolutely NOWHERE, with their shankapotamus Darren.
I will try and locate "jay."
Apreciate the feedback. Any other ideas are most welcome.
Ya, my sentence structure was lacking. I went from 804 to 540 with bad GF who trashed me on her cosigned mercedes. She voluntarily surrendered it last October. I personaly have never been late on a auto or home payment. My rule is not to pay unscrupulous theives like Verizon et.al. for poor service.
I was talking with Texas Lending, the "supposed" help people but got absolutely NOWHERE, with their shankapotamus Darren.
I will try and locate "jay."
Apreciate the feedback. Any other ideas are most welcome.