Will any USDA lenders approve loans with a credit score under 600, with a good rental history?

Asked by Nymets010, 32082 Mon Jun 6, 2011

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Rudy McDowell, Mortgage Broker Or Lender, Bloomfield Hills, MI
Tue Jun 7, 2011
Hi, Nymets010. There may be a few, (i.e. Wells Fargo) but they're going to take your credit history strongly into account as well. So if you have any standing government loan collections (i.e. student loans) or recent lates within the last 12-24 months on any of your reporting credit, or out of bankruptcy or previous foreclosure for less than 3 years, or your total debt to income ratios (with your proposed mortgage included) exceeeds 41%, you may still not qualify.
1 vote
Phyllis Stai…, Agent, Ponte Vedra Beach, FL
Thu Sep 15, 2011
Did you ever have any success in your lender search? If you still need help, please advise.
Regards,
Phyllis Staines
RE/MAX Coastal Real Estate
904-476-7653
Web Reference:  http://www.pstaines.com
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