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daynareneeda…, Renter in 85016

Where can I find a home loan with 10% down and a credit score under 600?

Asked by daynareneedayson, 85016 Tue Nov 19, 2013

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We specialize in helping borrowers find lenders that offer difficult loans most lenders cannot touch. I have helped hundreds of people get approved for home loans with scores under 600 with 3.5% down..

FYI there is a new program with some lenders that requires just .5% down for FHA loans is available to certain borrowers.

Fixed interest rate on a 30-year FHA loan, basically 2 loans one for 96.5 and one for 3%. If you want a referral to a lender that offers this with a 580 score
2 votes Thank Flag Link Sat Nov 23, 2013
Hello Dayna. I just wanted to follow-up and see if you had found a lender to assist you with your home loan.

Let me know if you have any questions about the home buying process or if you would like a referral to a great lender.

Thanks!

Jim Mitchell
Realty ONE Group
Jim@TheAZRealtor.com
PH: 480.231.6769
1 vote Thank Flag Link Sat Dec 7, 2013
Where is your exact credit score? If it is above 580, then you will have a much better chance at getting a loan. If it is under 580 then it will be difficult for lenders to do anything with your score so I recommend you work on it if that is the case. The simplest way to fix your credit score is to pay off your debt and revolving credit balance on time. So if your score is above 580, but under 620 then you will be limited to FHA loans. These types of loans only require 3.5% down and you will probably have to use the rest for closing costs and fees. It's also important to understand that you're ability to obtain a loan relies on other factors as well. These factors include income, expenses, assets, liabilities, debt, employment, down payment, as well as credit scores. So these factors will need to be strong as well to get you started. Either way, I suggest you speak with a lender like myself who would be glad to speak with you to help you get the loan that you need. If you have any further questions or if you would like a loan, feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Mon Feb 3, 2014
I have a very good contact for you, please contact me directly and I will be happy to provide you with their contact information.

Best Regards,

Real Estate Professional / Prestige Realty
Bianca Bennett / 602-570-7898
Bianca@InvestInArizonaHomes.com
Website: http://www.InvestInArizonaHomes.com
0 votes Thank Flag Link Tue Nov 26, 2013
Hello Dayna

their are a few lenders that can help you with that score , it all depends on what is showing on your credit; if you want to talk to one of them please get in contact with me

thanks have a great day
0 votes Thank Flag Link Wed Nov 20, 2013
I would work on improving your credit score. Then if you can qualify for an FHA loan, you will pay far less than with those who handle the loans for those with poor credit.
0 votes Thank Flag Link Wed Nov 20, 2013
I know a private lender that will do it with 14%down
0 votes Thank Flag Link Tue Nov 19, 2013
To be honest, there are a lot more factors to consider than down payment and credit score. Take the time to visit a full-time seasoned pro and submit an application.
0 votes Thank Flag Link Tue Nov 19, 2013
would need to review your credit to see what type of program would best fit your needs. Understanding the whole picture would help in getting you pre-qualified. I see that your Zip Code is close to mine, so we could meet and review your options.
Nina H. Penny
Nina Penny Mortgages
NMLS#168272 MB19254
480-635-2410
0 votes Thank Flag Link Tue Nov 19, 2013
It is possible to obtain a home loan under those parameters. However there are a lot more restrictions than 10% down payment. A lot more!!!!
The restrictions are tiered based on exact middle credit score.
Such as documenting past housing expenses.
Reduced income and outgo ratios
Down payment can not be a gifted
If you are interested in specifically what those other restrictions might be please contact me.

Dave Jackson
Loan Officer/Real Estate Asset Planner
Financing Solutions for Arizona Real Estate since 1993 American Financial Lending, Inc.
20860 N. Tatum Blvd, Suite 160
Phoenix, AZ 85050-4277
602 277-3800 w
602 631-9788 f
602 524-2401 c
602 912-9438 h
davej@aflhomeloans.com http://www.aflhomeloans.com
BK # 0910057 NMLS LO ID # 284875
0 votes Thank Flag Link Tue Nov 19, 2013
There are a small handful of lenders out there who can do an FHA loan with as low as a 580 credit score, but you would probably be best advised to get your credit score up a bit - at least into the 620 range - so you can have your pick of lenders and can shop for a lower rate.

With a score that low you are pretty much pigeon-holed into FHA. Conventional financing only goes down to 620.

My company has great rates and we can do FHA as low as 600, so if you can get those scores up I'd love to help you.

Best of luck!
Tony
0 votes Thank Flag Link Tue Nov 19, 2013
Try Tim Osborne at Academy Mortgage. His direct number is 928-287-2070, and his email address is tim.osborne@academymortgage.com. Let him know that James Reynolds, from HomeSmart, sent you.
0 votes Thank Flag Link Tue Nov 19, 2013
Look no further...

Give me a call right now, and I will get you in touch with Gordon Goosen with Pilot Mortgage. He has so many different options for you.

Once you get that pre approval, I can help you find your next home as well.

Looking forward to hearing from you,

Gordon Hageman
602-552-6421
Gordon@az1homesearch.com
http://www.Az1homesearch.com
0 votes Thank Flag Link Tue Nov 19, 2013
I would need to review your credit to see what type of program would best fit your needs. Understanding the whole picture would help in getting you pre-qualified. I see that your Zip Code is close to mine, so we could meet and review your options.
0 votes Thank Flag Link Tue Nov 19, 2013
I have a lender that can give loan for a buyer that has less than 600 FICO score. Call me.

Alicia Soloon-DelaCruz
480-414-7202
Team Investments Realty
http://www.aliciadelacruz.com.
0 votes Thank Flag Link Tue Nov 19, 2013
You mightcan a hard time finding a conventional lender with those criteria. You might want to consider a seller carry back loan. This is where the seller will carry the note for you.
0 votes Thank Flag Link Tue Nov 19, 2013
Hi,
It depends on how low your credit is below 600. Here is a lender referral. Best wishes, Tiffany

Avery Maxwell
Peoples Mortgage
14500 N Northsight Blvd # 300
Scottsdale AZ 85260
602-373-5300
NMLS 228098
0 votes Thank Flag Link Tue Nov 19, 2013
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