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is 600 credit score okay for a mortgage?

Mon Feb 11 2008, 19:08 - All locations - Financing - 4 answers
 
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Natalie
Home Buyer
in Beaufort
Natalie, Home Buyer in Beaufort in Beaufort
Answers (4)
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Linette Carr… was FIRST TO ANSWER
Natalia....

A 600 credit score may work on a FHA loan. Check with you local mortgage broker to see if this works.

Mon Feb 11 2008, 21:44
 
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Like Deborah said you could get a loan. Can you take a little time to increase your score. Have you spoken to an expert to see how long it would take and what you would have to do to increase your score. It would be to your advantage to up your number.

Mon Feb 11 2008, 21:35
 
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You can probably get a loan, but the terms will not be as advantageous. The rate may be higher, and the minimum required down payment could be more, also. It will limit your purchasing power, but you should still have the ability to buy.

Mon Feb 11 2008, 20:49
 
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FIRST ANSWER
640 would be better. I would take the time to pay off some debt and bring your credit score above the 640 mark. It will give you a better interest rate and access to programs that you might not be able to get with the lower score. Contact a reputable mortgage company (key work is reputable) or bank and discuss the best way to improve your score. It will be worth the work and the wait. Good luck.

Mon Feb 11 2008, 20:07
Web Reference: http://linettecarroll.yourKWagent.com
 
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