Home Buying in Philadelphia>Question Details

ystarch, Home Buyer in Philadelphia, PA

is it possible to get a mortgage loan for a 120k home with a credit score range of 550-600?

Asked by ystarch, Philadelphia, PA Sun Aug 26, 2012

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3
I work with a lot of people who have less than perfect credit. I tell all my clients that need a pre approval to visit The Lenders Network, I have seen loan approvals from them even with scores under a 600. So if anyone can get you a loan they can.

Good luck to you!
0 votes Thank Flag Link Wed Jul 31, 2013
Hello Y starch,

It is possible. The lender that I would use needs 10% down and some compensating factors to get it done. The rate will be higher than the best rates available but not so high as to prevent someone from moving forward if they want a house and cant get their credit score up.

Regards,
Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010 & 2012
NMLS ID 143960
0 votes Thank Flag Link Mon Aug 27, 2012
It is possible with a larger down payment of 20% or more
Michael Cohen 610-642-0347
0 votes Thank Flag Link Sun Aug 26, 2012
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