Home Buying in Southfield>Question Details

Cullenca47, Home Buyer in Southfield, MI

will mohave state bank finance with a 580 credit score?

Asked by Cullenca47, Southfield, MI Fri Nov 8, 2013

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Not sure, but my company specializes in helping people with difficult loans like low credit scores, self employment etc. we have partnerships with some of the largest lenders in America that offer loans (refinance and new purchase) with credit scores as low as 580. I'd love to help you purchase a home!
1 vote Thank Flag Link Fri Nov 15, 2013
That credit scores is right on the border. The lowest credit scores lenders like myself are able to do, is a score of 580. So us lenders would be able to give you a loan if your other finances are in place. 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. 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 Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Mon Feb 10, 2014
There are only a few lenders that will approve a loan with credit scores under 620. However, I will be able to help you with obtaining an approval as long as you meet a short list of criteria. The 1st and most important is that you can show 12 months of rental history with NO late payments (this may be in the form of rental verification from a property management company or 12 consecutive bank statements showing the amount of rent being paid). Secondly, you must have your own funds for the down payment (3.5%). Please feel free to contact me directly and I can provide additional information.

Tamara Williams
NMLS #176387
248-716-8032 or
Cranbrook Loans
0 votes Thank Flag Link Mon Nov 11, 2013

The only way to get a correct answer is to contact them directly. But most lenders are looking for a higher credit score than that. There is more to qualifying for a mortgage than just a score, so contact a lender and see what you could possibly qualify for.

If you don't qualify for a mortgage now, ask the lender what you will need to do to clean up your credit and possibly qualify for a mortgage in the near future. Either way, the future for you starts today, so take the necessary steps to move in the right direction immediately.

Good Luck,

(248) 379-6547
0 votes Thank Flag Link Fri Nov 8, 2013
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