Posted on: 05th Jan, 2009 08:51 pm
looking to get a loan for my wife. Her mid score is 520. What can we do with this if anything?
Let me know. "jeremyhawker@msn.com"
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Let me know. "jeremyhawker@msn.com"
[size=9:0557a2dcc6][color=Red:0557a2dcc6][Link deactivated as per forum rules. Thanks.][/color:0557a2dcc6][/size:0557a2dcc6]
Hi jeremyhawker,
With a credit score of 520, your wife will not be able to get a mortgage. In order to get a FHA mortgage, the lender will require at least a credit score of 580. Moreover, there shouldn't be any kind of collections or late payments in the credit report.
So in my opinion, your wife should first improve her credit. To know about how you can improve credit, check out the following link:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Thanks
With a credit score of 520, your wife will not be able to get a mortgage. In order to get a FHA mortgage, the lender will require at least a credit score of 580. Moreover, there shouldn't be any kind of collections or late payments in the credit report.
So in my opinion, your wife should first improve her credit. To know about how you can improve credit, check out the following link:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Thanks