Can I get an FHA approval w/580 credit score?

Asked by Ashley, 20748 Sat Apr 17, 2010

Would like to know if there are any lenders that still do loans w/580 credit score.

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4
Gerard Dunn, Agent, Chevy Chase, MD
Wed Jun 9, 2010
You are going to need a 620 to be considered. Why not meet with a lender and develop a plan to get back on track with your credit.

You can find out the things you need to to -and increase your score to a level that will allow easier approval!

Good Luck!

Gerard Dunn
Licensed in MD, Virginia and D.C.

gerry@MyPotomac.com
0 votes
Dee Campbell, , Charles County, MD
Wed Jun 9, 2010
You need to speak to a lender. The lender will be able to advise you on what can you do and what is the best way for you to go. Keep on repairing your credit since your sore should be 620, anything less it may cost you more in a long run. I am working with great lenders and if you like I can put you in touch with them. Good luck and please contact me if you need more help.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Sat Apr 17, 2010
Consult with any qualified loan officer(s), see exactly what your budget can handle and check your credit score again; your loan officer may offer suggestions on how to best improve your credit in the fastest time. Currently FHA loans do require a minimum score of 620 and 3.5% down; there may be some lenders who will work with a lesser score, however the interest rate may be higher. In the meantime do work on repairing your credit, dispute old negatives, pay all bills on time, keep credit cards below 50%, pay off old debt, pay down debt, etc.
0 votes
Dallas Texas, Agent, Dallas, TN
Sat Apr 17, 2010
Where did you get your credit score from a mortgage company?

Best contact mortgage broker obtain your "true mortgage score"'

However if all is true you most likely would require - 620 +

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
Web Reference:  http://www.lynn911.com
0 votes
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