Posted on: 27th May, 2010 05:58 am
I need a loan ($100,000 - 120,000) to purchase a new mobile home and land however I have terrible credit (FICO 425). On a positive note, I do have $6,200 (~ 5%) to put down. I have a solid work history and have worked in the same field for the last 18 years. My gross salary is over $70,000/year. Are there any lenders that would write a loan under these circumstances?
Hi,
The best suggestion I can give you is wait for sometime and try to improve your credit score to 620 to 700. Try to make all your payments on time and check your credit report properly and in case you see any discrepancy inform it to the credit bureau with proof. It will help you to improve your credit score. There are lenders who provide loan with a credit score of 580 but there may be some hidden charges as well. So I would suggest you to improve your credit score so that you get better loan option.
Hope this will help you.
The best suggestion I can give you is wait for sometime and try to improve your credit score to 620 to 700. Try to make all your payments on time and check your credit report properly and in case you see any discrepancy inform it to the credit bureau with proof. It will help you to improve your credit score. There are lenders who provide loan with a credit score of 580 but there may be some hidden charges as well. So I would suggest you to improve your credit score so that you get better loan option.
Hope this will help you.