Is there a lender who helps low credit score people?

Asked by airreea, 76010 Sun Apr 7, 2013

am tired of renting. I have a 560 credit score and is there any lender that will work with me to get into a home?

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The United Home Team’s answer
The United H…, Agent, Mansfield, TX
Thu Apr 11, 2013
Prior to buying a property I would strongly suggest in attempting to pay off past due amounts, collections and obtaining a higher credit score. If you find a lender that will loan you a mortgage with a score of this level your rates would probably be pretty nasty. Trust me its worth the wait and the stress in the end. I would be affraid of making it half way to closing only to be told," sorry we can't loan you the money."

Keller Williams Realty
Real Estate Consutlant
3xUS Army Veteran
Joseph Fernandez
Cell: 817-975-7258
Off: 817-635-1028
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Zyre Sullivan, Agent, Grand Prairie, TX
Sun Jul 28, 2013
The exclusive program we have here at Century 21 Judge Fite (The #1 Century 21 in Texas) was designed specifically for people in your situation. You will need good work and rental history and proof of payment ability. But we can work with your credit issues. Also you will have a variety of homes to choose from. Contact for more information.
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, ,
Mon Jun 3, 2013
I can help, but it's going to take some elbow grease, a little patience, and some tenacity. If you're willing to roll up your sleeves so am I.

Best Regards
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, ,
Mon Apr 8, 2013
Typically, the reason for the 560 is reason enough to deny the loan.
Not always.
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Tamika Goree, Agent, Arlingon, TX
Mon Apr 8, 2013
Good Morning,

It really depends on what is on your credit reports. If the 560 is due to any recent late payments, you would have to wait 12-18 mths from your last late payment. Any judgements is an automatic denial until you pay it off. If the 560 is due to little or no credit, than the lender will guide you on what you need to do in order to raise your scores. I know a lender that will assist you on raising your credit scores. Please feel free to contact me at your convenience. I look forward to hearing from you!

Make it a Great Day!

Tamika A. Goree
Broker | Owner
The DFW Property Shop
Cell: 972.697.1178
Fax: 972.665.7148
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Michael Cheng, Agent, San Jose, CA
Mon Apr 8, 2013
Since the federal government is directly funding or supporting about 90% of new loans, you should check federal loan programs. FHA does have something that may work for 560 credit score, but that's not your biggest hurdle. Being able to compete with buyers who have superior credit and large downpayment is the main problem in the current housing market.
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