How can I get home loan with FICO score under 600? i want to buy a home right now.

Jon
Both Buyer and Seller
Davenport, FL

Here is the problem. I own a home that I am trying to sell. I found a home in Florida I want to purchase. Before I went looking for home, I was pre aprrove by my lender who I have a loan with. However, after I found the home I wanted the lender withdraw my pre approvel, because my score just drop. I was told by other people I could go for Bridge loan, only I learn that many lenders do not do that anymore.

I had my loan on my home for over 10 years, never was I late once. My home loan agent said the income is not the problem, because I have more then enough, its the Fico score that is.

I have a home I want to buy now in Florida, only I find it very hard to get a loan with low FICO score. I did not sell my home yet. Its multi family home and could be use as rental income. I really want to get this home now and not wait. What can I do now? Any advice?

Answers (1)
Joshstewart
Mortgage Broker
or Lender

Northfield, OH
FIRST ANSWER

Jon,
Please contact me at your earliest convenience. Under certain circumstances I can go down to a 560 credit score. Depending how low your score is, there are several "tricks" to boost your score quickly.
I will be in the office until 8pm eastern.

Josh Stewart
Preferred Mortgage Consultants
1-800-839-1019 ext 135

Thu Sep 10 2009, 13:24

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