can i find a home loan in california with a credit score of 548? I have a steady income of $ 2500 monthly and hold 2 jobs.

Asked by Miracle1, 15370 Tue Apr 6, 2010

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Anna M Brocco, Agent, Williston Park, NY
Tue Apr 6, 2010
Not knowing many details of your financiala/assets, etc.--visit with any qualified loan officer(s), see what your budget can handle and check your credit score again--your loan officer may offer suggestions on how to quickly improve your score--Currently FHA loans do require a minimum credit score of 620 and 3.5% down; there may be lenders out there that will work with a lesser score, however the interest rate may be higher. In the meantime work diligently in repairing your credit--pay all bills on time, dispute old negatives, pay off old debt, pay down debt, keep credit cards below 50%, etc.
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Dan Chase, Home Buyer, Texas City, TX
Tue Apr 6, 2010
FHA wants a 620 or higher score. Occasionally I see 580 mentioned.

You get that low a score by doing something wrong. Once you have fixed the reasons for the low score your score will improve. The only way to get a house now would be owner financed or rent (or lease) to own.

I would try talking to a local lender who also works with credit repair. You may be able to bring your number up in a short amount of time. maybe it will be a year or 2 before your core can be improved. If so use the time well. Save for a down payment and follow some of the ideas in the blog below.…

Never give up, just keep improving your situation.
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