Financing in Manchester>Question Details

Rhodeskn, Other/Just Looking in Manchester, MI

can you get a mortgage loan with a credit score of 525-548? I am currently trying to pay things off.

Asked by Rhodeskn, Manchester, MI Sat Aug 15, 2009

mortgage loans bad credit

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3
You might consider repairing your credit and rebuilding your credit rating. I can assist you with improving your credit profile. Good luck!
0 votes Thank Flag Link Fri Aug 21, 2009
You probably will struggle to get a conventional mortgage (if possible), but you do have another alternative: seller financing.
0 votes Thank Flag Link Wed Aug 19, 2009
Your best bet is the current lender that owns your mortgage. Anything under 620 these days is considered damaged credit, and you're not going to find a lender wanting to take on another bank's problems, however your current lender may be willing to work with you on restructuring your mortgage if it helps avoid a foreclosure. You likely would not be able to consolidate any other debts though.

If you are over 62 yrs old you may be able to do a reverse mortgage. These loans are not based on credit scores, only your age and the amount of equity you have in the home

Best of luck
Tony
0 votes Thank Flag Link Wed Aug 19, 2009
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