Posted on: 05th Aug, 2009 05:17 pm
i have a middle score of 577 is there a chance for a loan? i have a job but am not making a lot of money maybe 28k a year.
Hi Jessica, With a score of 577 you will not qualify for any type of loan. As FHA loans do require a minimum score of 620. It will not hurt to try with a local bank or lender and see what happens. Your best bet is to get your fico up above 620 and you can go for an FHA loan.
Hey Jessica,
I agree with Gary here. With a credit score of 577, you won't qualify for FHA or conventional loans. I would suggest you try and improve your credit score first and then look out for a loan. Check out the given page to know about ways to improve your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html
I agree with Gary here. With a credit score of 577, you won't qualify for FHA or conventional loans. I would suggest you try and improve your credit score first and then look out for a loan. Check out the given page to know about ways to improve your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html
JessicaBoothe
Welcoem to the forum
You did not mention what kind of loan you are looking for?
If you are looking for a hokme loan, it is better to improve your score and then look for FHA loan.
If you are looking for personal or car loan you may need to pay high interest rate
Good luck and feel free to ask
Welcoem to the forum
You did not mention what kind of loan you are looking for?
If you are looking for a hokme loan, it is better to improve your score and then look for FHA loan.
If you are looking for personal or car loan you may need to pay high interest rate
Good luck and feel free to ask
with a score of 577, you will not be able to get any kind of loan and also you mentioned that your income is also not so good.... you must work on improving your credit score and should try to bring it above 620 so that you can qualify for FHA loan.