Question Details

Patricia, Renter in Destrehan, LA

my credit score is 568 is this to low for a mortgage loan?

Asked by Patricia, Destrehan, LA Fri Jul 22, 2011

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There are some lenders that might be able to accommodate you with your scores but I would not do it. The best thing for you to do is improve your scores. Sometimes that may be as easy as paying down the balances on your credit card(s). First thing you need to do is sit down with a lender that can review your credit and identify the areas of opportunity and advise you on how to address them.
0 votes Thank Flag Link Sat Jul 23, 2011
You dont have to accept your credit score until you have exercised your legal RIGHT's of the Fair Credit Reporting Act of 1971, you can veiw a video on my web site to get a understanding of this RIGHT you have!! The next step would be to protect your credit with credit monitoring and the FIVE Area's ID Theft! Now, you are ready to realize your undisputed credit score and move forward with a loan approval to qualify for downpayment asst. On the Hud web site you can find non-profit organization's, that can help you find downpayment asst programs in your area. When looking to hire a credit repair company make sure they offer a money back credit repair fast . com and if they dont, read about ours at money back credit repair fast . com
0 votes Thank Flag Link Fri Jul 22, 2011
In 2010 FHA required that you have a credit score of 500. However if you are looking to get an FHA 3.5% down payment loan the minimun is 580. I also understand that this may vary among lenders.
0 votes Thank Flag Link Fri Jul 22, 2011
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