Financing in Arlington>Question Details

Michael Fill…, Renter in Arlington, TX

I have a 580 credit score what are my chances of getting approved for a mortgage? or what can i do to improve my score so i can?

Asked by Michael Fillner, Arlington, TX Tue Mar 12, 2013

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K.C. Jones’ answer
580 is our magic number! We're able to approve FHA loans (3.5% down) with middle credit scores as low as 580. Feel free to apply online at http://www.rhlapps.com/kjones or give me a call.

K.C. Jones
RH Lending
214-432-0486
kjones@rhlending.com
0 votes Thank Flag Link Fri Mar 22, 2013
You can get approved with under a 600 credit score for home loan, I am not sure about a 540. I have had clients with a 580 credit score get approved for an FHA loan just 3.5% down, The Lenders Network is the place to start for any questions loan related. If you need help to get your scores up they can help with that too.

Good Luck!
2 votes Thank Flag Link Sat Aug 10, 2013
We suggest that you meet with a loan officer at a local bank to find out what actions you need to take to obtain a loan approval. Then, follow the loan officers advice.
0 votes Thank Flag Link Sat Aug 10, 2013
We have a lease with the right to purchase program that allows you to get in a home with low credit scores. You can agree to purchase as soon as you are approved if so desired. Contact for more details or to set an appointment at our Century 21 Judge Fite Arlington office to get you approved.
0 votes Thank Flag Link Sun Jul 28, 2013
I would call Jeff in my office at 817-469-1625 or cell 817-988-7653. he can help you with a lender that we work with that can work a loan with your 580 score
0 votes Thank Flag Link Thu Mar 21, 2013
I would call Jeff in my office at 817-469-1625 or cell 817-988-7653. he can help you with a lender that we work with that can work a loan with your 580 score
0 votes Thank Flag Link Thu Mar 21, 2013
It all depends on the what the issues are. I am a credit repair consultant to many across the country. Contact my office I can offer assistance. Please be prepared there will be consultant charge.

Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com 100's of Dallas homes listed for sale or lease

Follow me on Facebook
http://www.facebook.com/lynn911dallas
0 votes Thank Flag Link Tue Mar 12, 2013
http://dallasloanguy.com/free-credit-book/

The free e-book at the link above is a start.

Is the credit all bad? Is there a mix of some good credit?
What are the credit card balances in relation to the limit? Paying down maxed out cards will get you 30 - 60 points.



Tom Burris
Mortgage Banker
http://www.servicefirstmckinney.com/
(214) 763-4629 cell/text/nights/weekends(Really!!)
tburris@servicefirstmtg.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes Thank Flag Link Tue Mar 12, 2013
You should find a lender who will work with you and give you guidance on how to improve your credit. You need to fully understand where your credit is headed and make sure it is moving in the right direction. If not you will stay suck where you are. You can go back and read my previous extensive answers on how to rebuild your credit by establishing installment loans with secured assets as well as credit cards too.

Hope this helps.

_______________________________________
Don Groff
REALTOR® & Mortgage Broker
Austin Real Estate Pros | 360 Lending Group
office: 512.669.5599 mobile: 512.633.4157
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
email: listings@dongroff.com
0 votes Thank Flag Link Tue Mar 12, 2013
Michael, even if someone is willing to lend you money with a score that low it may not be in your best interest. Credit scores are nothing more than a number that represents the probability an individual will repay the debt as agreed, the lower the score the less likely they will make the payments in a timely manner. How bad of a bet are you willing to make against yourself?

The conventional rate pricing tier stops at 620 in my shop but anything below 640 is an issue.

I would fix whatever issue is causing my score to be that low before trying to take on more debt, you can’t borrow your way out of debt.

Good luck,
Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
Web Reference: http://jamessimms.com/
0 votes Thank Flag Link Tue Mar 12, 2013
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