Home Buying in Youngsville>Question Details

iasiapope, Home Buyer in Youngsville, NC

which loan company taking a credit score at 595 in raleigh nc area

Asked by iasiapope, Youngsville, NC Wed Jan 30, 2013

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You might be able to get an FHA loan if the lender is willing to go with FHA's minimum score of 500. However, most lenders require a higher score than the minimum---usually around a 620. If you do manage to get a loan with a low credit score, your interest rate and your payments will be higher because you're more of a risk. If you had help, you could probably improve your credit within 6 months to be able to qualify for a better loan. If you would like some information on credit restoration services, I have a contact who will help you restore your credit. They do not charge a monthly fee like some other companies.
0 votes Thank Flag Link Tue Feb 5, 2013
In my opinion, while you are searching to find someone to accept your loan with less than perfect credit, you should focus on making the slight corrections to your credit profile so that in 3-6 months time you will have a 640 credit score and more lenders will compete for your business.
0 votes Thank Flag Link Wed Jan 30, 2013
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