Credit Score in 92256>Question Details

cpoxy1983, Home Buyer in La Quinta, CA

Any loans available for a 570 credit score?

Asked by cpoxy1983, La Quinta, CA Mon Mar 18, 2013

Interested to know if any loans available go down to this low of a credit score. Interested in FHA or USDA. My score is low due to credit cards. One of those cards just went to collections. This happened because my wife lost her job due to a disability. I'm currently paying on the credit cards. I also have two car payments that are always on time. My rent is always on time as well. Just interested to see if there are any loans available or if it would just be a waste of time for everybody. Any advise would be appreciated. Thanks.

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Jory Blake’s answer
Your good to go, start working with a top notch lender now and they will get you in shape to purchase in 3-6 months. Do exactly what they say and you'll get a loan. Then work with a top notch buyers agent
and do what they say , and you'll get a house.

Take care,

Jory Blake
Riverside Real Estate Agent
951.742.3751
Web Reference: http://www.JoryBlake.com
0 votes Thank Flag Link Mon Mar 18, 2013
We help people who have low credit scores and match you with a lender that has a loan product for you. 580 credit score needed for FHA and 620 for conventional with 3% down.
2 votes Thank Flag Link Tue Oct 22, 2013
Hello cpozy1983, yes there are and your qualifications will be determined by your credit profile, debt to income ratios, fico scores and how much you want to invest into the down payment and closing costs. If you have credit issues, your credit scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You may qualify to buy FHA with fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or even as low as .5% half percent down payment program. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI).

You may qualify FHA from as low as 500 fico score and USDA Rural as low as 580. If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria.

You will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
22+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt

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1 vote Thank Flag Link Wed Mar 25, 2015
The company a lot of people go to when there's credit issues is Home Loans For All. They've been known to get loans done when others can't. Just google Home Loans For All. Hope that helps
0 votes Thank Flag Link Sat Jul 18, 2015
If you need help to raise your credit scores fast, Feel free to contact us.
We specialize in raising FICO scores dramatically, in weeks, not months or years.

As a matter of fact with one of our most recent clients we raised his score from 552 up to 729 in 3 weeks.

Hope This Helps


IZM Credit Services

IzmCreditServices.net

(702) 758 - 3799
0 votes Thank Flag Link Sun Apr 19, 2015
Hi there!

I'm a lender and I am definitely willing to help with your situation! Our company can get you a loan with credit as low as 560. Please use the information on my profile page to contact me!

Hope this helps and good luck!
0 votes Thank Flag Link Wed Mar 12, 2014
Please feel free to contact me direct my clicking my on Profile or please click on the links below and don't forget to read some the comments from my previous clients.

Best of Luck!

http://www.trulia.com/blog/george_raymondo/2011/03/usda_loan…

http://www.trulia.com/blog/george_raymondo/2011/03/can_someo…
Web Reference: http://www.AFN-Loans.com
0 votes Thank Flag Link Sat May 18, 2013
Hello, if you want to own a home in about a year, contact my office. We help folks just like yourself become homeowners.

Have a great day;

Christina Solorzano;
CEO & SR Credit & Mortgage Consultant of
Everlasting Credit Repair
Ex-Mortgage Broker of more than 10 years
http://www.everlastingcredit.com
0 votes Thank Flag Link Thu May 16, 2013
I would be glad to assist in getting your credit where it needs to be to obtain a home. Contact me so I can help!
0 votes Thank Flag Link Tue May 14, 2013
If you can get to a 600 credit score there are more options. I highly recommend trying to repair your score to at least 600 first vs. looking for a loan at a 570 score. There are some quick fixes that can bump your score substantially. Try to pay all your credit cards to 30% or less than your card limits. This is the #1 thing I have seen that raises credit scores in the short term.
0 votes Thank Flag Link Tue May 14, 2013
Good afternoon cpoxy1983,

We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. This is BAD credit. If you are one of the folks affected by this terrible economy, you have a low credit score and you have a dream of buying a home, here's some simple advice for you.
It is unlikely you could be approved for mortgage financing with that credit score at this time.


Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.


First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.


Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.


I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website. http://www.consumer-action.org/


Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE. http://www.consumer.ftc.gov/articles/0058-credit-repair-how-…


The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528

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0 votes Thank Flag Link Tue May 14, 2013
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