Home Buying in Silsbee>Question Details

Brebecca170, Home Buyer in Silsbee, TX

Can you get a home mortgage in Silsbee,tx with poor credit rating?

Asked by Brebecca170, Silsbee, TX Fri Jun 11, 2010

Help the community by answering this question:


It really depends on your situation. If you have a lot of recent collections and charge off accounts, no. Some lenders can help people with scores as low as 580. You will want to speak with an FHA approved lender who can work with problem credit. Even if you can't buy a home today they can help you get on the right track so you can buy a home in the future.

Good luck to you.
0 votes Thank Flag Link Fri Jun 11, 2010
Depends on how bad your credit is--Currently FHA loans do require a minimum credit score of 620 and 3.5% down--there may be some lenders willing to work with a lesser score, however the interest rate and down payment may be higher. Visit with any qualified loan officer(s) first, see if you qualify and for how much--have your credit score checked as their scoring is often different--if your credit needs improvement, your loan officer can suggest ways to best improve it in the fastest time.
0 votes Thank Flag Link Fri Jun 11, 2010
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