Posted on: 24th Jan, 2014 01:43 am
I want to get my present mortgage refinanced. I owe very little on it. But I have a low credit score due to health reasons. Will I be able to refinance?
With a low credit score, it will be quite difficult for you to qualify for a refinance. You will have to improve your credit scores and then look out for a mortgage.
Your credit will always come in to play when using traditional financing, How low are your scores? Anything below 620 is very difficult - above that level you will have options if everything else checks out - the equity position may help you if you can find an FHA lender willing to work with lower scores but they are difficult to find.
Good Luck
Brian Barnes
ENG lending
Nationwide Lender
Good Luck
Brian Barnes
ENG lending
Nationwide Lender
