Posted on: 10th May, 2010 09:24 pm
hi, i have a credit score bt 580 and 520. my husband doesnt have any credit. we've been told that we cant get a loan for a site build house, is it the same with a manufactured house?
Hi guest,
I am afraid that with a score as low as 580-520 you won't qualify for loans on any kind of houses. Even for FHA and VA loans the minimum credit score required is 620.
You should better try improving your score before taking a loan. Generally a score above 700 is considered to be good enough to qualify for a loan with low interest rates.
Thanks,
Sandra
I am afraid that with a score as low as 580-520 you won't qualify for loans on any kind of houses. Even for FHA and VA loans the minimum credit score required is 620.
You should better try improving your score before taking a loan. Generally a score above 700 is considered to be good enough to qualify for a loan with low interest rates.
Thanks,
Sandra
Hi,
In order to qualify for a loan the minimum credit score required is 620. The lenders not only check the credit score but also checks the source of income and credit history. It is better for you to improve your credit score to minimum 620 and above so that you get better options of getting a loan. Don't be depressed, try to work little hard on your credit and everything will be alright.
Feel free to ask if you have further queries.
In order to qualify for a loan the minimum credit score required is 620. The lenders not only check the credit score but also checks the source of income and credit history. It is better for you to improve your credit score to minimum 620 and above so that you get better options of getting a loan. Don't be depressed, try to work little hard on your credit and everything will be alright.
Feel free to ask if you have further queries.