Can I get a mortgage with a 600 middle credit score? I make $70,000 a year for a company I have now been with for 5 years.

Asked by Jack, Maine Mon Aug 22, 2011

Best I have been able to find is UDSA, but I need 620 middle score. Had perfect credit history for nearly 10 years before a job loss caused a financial crisis. Have been building good credit again since then and steadily raising my scores.

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Jessica Bate…, Agent, Beverly Hills, CA
Sun Jun 15, 2014
I know that some wholesale lenders can approved a credit score of 580 for USDA loans. I would recommend checking out a site like The Lenders Network who will refer you to a few lenders that are the best match for you. Good luck!
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Kdubois250, Home Buyer, East Meadow, NY
Mon Feb 11, 2013
my credit score is under 625 i have a good job i make 87,000 a year credit was damaged during a devorce everything has ben on time for the past year can you help
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Scott McCaul…, Other Pro, Portsmouth, NH
Tue Dec 20, 2011

I am one of a select few lenders who is Ginnie Mae(Government National Mortgage Association) Certified to offer loans to borrowers with credit scores above 580. Typically only a few % of ALL lenders have this status. it works on the idea that the borrower has other strengths beyond just the credit scores (income, job stability, etc...)

We would need to qualify you, where things like your good income with stable employment are benefits to offset lower credit scores. Down payment amount can be as low as 3.5% down.

It's a great program for someone who has some credit issues but is otherwise a strong borrower in other areas.

I would be happy to assist or talk more in depth. Please feel free to call me @ (603) 380-3798 or email me at

Scott McCauley
Annie-Mac Home Mortgage
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Elliott R. O…, Agent, McLean, VA
Mon Dec 19, 2011
There are lenders like us that can go down to 580 on FHA but I recommend getting your scores about a 640 if you have time. Best way to get your scores up is by paying down credit cards to just under 50% of your limit or whenever possible just under 30%. Here are some more tips on credit:…
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Andrew Mooers, Agent, Houlton, ME
Sun Dec 18, 2011
How long ago did the job crisis happen? And debt ratios, how much debt, what is the home you are considering will come in to play. If it needs lots that the seller is not going to touch with a ten foot pole, and you don't have the resources, oh oh. Where in Maine makes a difference as the average state home price in Maine is around $179,900 but that's southern Maine. Lop off a $100,000 of that figure in Northern Maine. That big a different. Not a veteran? Or the wife, girl friend?
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Shawn Ryan R…, Agent, Belleville, NJ
Wed Dec 14, 2011
FHA is likely your only avenue. yes, needed score is normally 620-640, but than can be side-stepped if you have a solid downpayment and for other factors
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Shane Milne, Mortgage Broker Or Lender, South Jordan, UT
Tue Aug 23, 2011
Well it sounds like you avoided foreclosure, even if you went 120 days late on it it's still not considered a foreclosure unless an actual foreclosure happened, so that is good because a foreclosure is a 3-year wait for FHA & USDA financing. The late late payments on credit cards & installment loans wouldn't be an issue from back in 2008, however if the judgment was within 3 years of your application then it'd disqualify you from our FHA loan program that goes down to a 600 score (we have much easier guidelines once you reach 640, including being eligible for USDA financing). It's relatively easy to get your scores up to a 600 level, but unless you have at least 3 to 5 trade lines reporting on time payments each month... the ascent up from the 600 level is a slow one. Regarding your unpaid collection & charge-off accounts, I wouldn't pay them off unless an underwriter requires you to because as you've been told paying them off could have some negative impact to your scores. As far as your chances of your credit being OK at this point are roughly 75%... if you had 640 scores that would open up more lenders, as well as make lenders FHA underwriting guidelines go easier on you, and the chance of your credit being OK in that situation would increase quite a bit, I'd put it at around 95%. Plus having a 640 score will open up a lot of USDA lenders as choices (at a 640 score USDA allows lenders to waive certain credit issues, including unpaid collection/charge-off accounts), which is a better program than FHA in my opinion.

Where did you get your credit scores from? I wonder, as pretty much all websites where consumers can check their own scores at are giving out incorrect scores, "FAKO" scores we call them since they are a fake FICO score. There are different scoring models that various lenders use (mortgage lenders, auto loan lenders, credit card lenders, etc.) and the ones that mortgage lenders use actually cannot be obtained by consumers at this point (other than if a creditor checks your credit and provides them to you). So unless you got your scores from a mortgage lender, you may be unpleasantly surprised that your real scores may not be as high.
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Jack, Home Buyer, Maine
Tue Aug 23, 2011
Additional info: Job loss was in May 2006, got new job several months later in 2006. Hung in there until late 2007 and early '08, but had gotten behind and was robbing Peter to pay Paul (i.e. using one credit card to pay for others and so on.) Finally let all my credit cards go and sold house, had a few missed payments on that until I was finally able to sell it in late '08. Cards went to collection agencies with one judgement issued which has been settled. Have been working with credit agencies to raise my scores. They have risen from low to mid 500s to approx 570, 604, 640, but have been rising very little in last couple months. Still have several accounts unsettled since credit agencies told me not to settle since it would do more hurt. Have some money saved for down payment.
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Shane Milne, Mortgage Broker Or Lender, South Jordan, UT
Mon Aug 22, 2011
If your financial crisis was caused by a job loss, and you have been with a company now for 5 years, are you saying your credit issues are from 5 years ago... or are they more recent?

If you don't have any “settled for less than amount owed” or public records in the past 36 months, and no collections or late payments in the past 12 months, then it could be possible with your 600 score. Is the 3.5% down payment from your own funds?

Shane Milne | Loan Officer in Orange County, CA | NMLS #81195
Direct local #'s: 949-273-4161 or 646-257-4842
Lending in all 50 states, all types of mortgages
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Deja Lett, Agent, Saco, ME
Mon Aug 22, 2011
Hello Jim,

There are lenders in this area, that can help you to raise your credit score. I have the name of a few if you'd like them. You can shoot me an email at and I will send them back to you.
Web Reference:
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Yvonne Rodri…, Agent, Las Cruces, NM
Mon Aug 22, 2011
Not all lenders require a 620 middle score. Search online for a lender that will work with your 600 credit score. Some mortgage brokers might be able to help rather than big banks. Also, ask if credit repair is offered. Some lenders these days offer credit repair programs that could bring you up quickly in as little as 30 days.
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