Home Buying in Markham>Question Details

Cherispt, Home Buyer in Glenwood, IL

will anyone give me a mortgage with low score but half down?

Asked by Cherispt, Glenwood, IL Wed Jan 16, 2013

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3
That all depends on what that credit score is, why it is and can anything be done to improve it. A conversation with a trusted local mortgage professional will go a long way in getting the answers you need to move forward. Credit can always be improved, no shames, many people have had challenges.

If you are in immediate need of a mortgage and your scores are well below current underwriting guidelines, you may have to seek a 'hard money' loan that typically requires in the area of 50% down. They are short term only, usually maxing at 18-24 months, and are not cheap.

Fixing the score is your best bet.
0 votes Thank Flag Link Mon Apr 8, 2013
Hi Suzanne:

I work with lenders that go as low as a 580 score. Give me a call or send me an email to discuss your situation.

Patty Harrison
Smart Mortgage Centers
630-478-2684
patty@smartmtgs.net/www.smartmortgageinc.com
0 votes Thank Flag Link Thu Jan 17, 2013
Talk to a mortgage lender or a few. Your best bet is to go to a smaller community bank who portfolios their loans. Call a few and ask.
0 votes Thank Flag Link Wed Jan 16, 2013
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