I live in michigan and am looking for a mortgage loan i have a low credit score of 618 can anyone help us fulfill our dream of owning a home????

Asked by thanotorius1, Hudsonville, MI Tue Jul 9, 2013

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9
lendersnetwo…, Agent, Plano, TX
Thu Oct 31, 2013
Yes I know lenders that can go down to a 580 credit score for FHA..
2 votes
John Cooper, Agent, Katy, TX
Tue Jul 9, 2013
First you need to talk with a mortgage lender in the state in which you are looking to buy. Then see if one will appeal some of the items on your credit report. You can do this yourself, you are so close to the 620 score for FHA that just one or two adjustments would put you over the top.
1 vote
Ryan Dalton, Mortgage Broker Or Lender, Columbus, OH
Tue Jul 9, 2013
Yes! While most lenders nationally require you to have a FICO of 620 or higher you can still obtain financing with a credit score down to as low as 580 on certain programs.

I hope this helps, good luck!
1 vote
What programs??
Flag Thu Jul 11, 2013
Brian.young, Home Buyer, Rockford, IL
Mon Dec 28, 2015
Licensned in 43 states not just Illinois, I work for a direct lender in the mortgage industry who offers conventional, FHA VA, and USDA loans. Are lowest score we accept for government loans are 550 when most lenders require a 620 and brokers a 580. You have to have two years of income with a score over 550 with bankruptcies discharge date 2 years and over. We have basic guidelines and a pretty easy process. Feel free to text me or call me anytime up to 10:00pm Eastern with any questions.
Brian Young 214-797-3479
NMLS# 902687
0 votes
Brian, I just tried to contact you on here but it wont let me. Can you please email me? jenniyo80@gmail.com
Flag Thu Jan 21, 2016
Brian.young, Home Buyer, Rockford, IL
Mon Dec 28, 2015
I work for a direct lender in the mortgage industry who offers conventional, FHA VA, and USDA loans. Are lowest score we accept for government loans are 550 when most lenders require a 620 and brokers a 580. You have to have two years of income with a score over 550 with bankruptcies discharge date 2 years and over. We have basic guidelines and a pretty easy process. Feel free to text me or call me anytime up to 10:00pm Eastern with any questions.
Brian Young 214-797-3479
NMLS# 902687
0 votes
Richard Lueb…, Agent, Cypress, TX
Wed Jul 10, 2013
Good morning, I would recommend working with a local mortgage broker. They can help you get your score up to, what is needed for the loan. Have a Great Day!
"Selling Real Estate Since 2001"
Best Regards,
Richard Luebeck
Elite Texas Properties
12320 Barker Cypress Road
Suite 600-224
Cypress TX 77429
Cell 832-646-2886
realtor_richard@yahoo.com
http://www.har.com/richardluebeck
http://www.texasrealestate.com/richardluebeck
http://www.elitetexasproperties.com
0 votes
Colin Robert…, , Los Angeles, CA
Tue Jul 9, 2013
You might be able to find a lender, but you're going to pay through the nose for a score that low. You might consider ordering a credit report and determining what's wrong with your credit.

It may be possible to dispute an erroneous item and/or pay down an existing balance, which could boost your score significantly.

And once you've got a higher credit score, you'll be able to shop your loan with a larger group of lenders, and gain access to lower rates. If only one or two lenders are willing to work with you, you'll be at their mercy, with little room to negotiate.
0 votes
Bryan O'leary, Agent, Katy, TX
Tue Jul 9, 2013
You need to talk with a mortgage lender, bank, or your credit union. Also, is there any history of military, so you can possibly look into a VA loan. Talk with those people and ask them how to raise your credit score. Since you are close, it shouldn't take long. Set up 3 auto drafts on 3 different cards. Like phone on visa, cable on discover, and say electrical on an American Express, and maybe a fourth like a car note on Master Card. This will help raise your score quickly. Also, call your card companies and ask them to raise your limit. Whatever you do, DO NOT purchase anything at all before you have moved into your new home. I hope this helps.

Bryan
0 votes
Gilbert Wash…, , Katy, TX
Tue Jul 9, 2013
I would advise you to talk with someone at your local bank or credit union. Since you are a client of there's already they will be able to help you!
0 votes
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