My credit score is a 615 can I get a loan how

Asked by Abgsaysay, Grand Rapids, MI Tue May 6, 2014

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maverickfund…, , Warren, MI
Thu May 15, 2014
HI my name is David I work for Maverick Funding. We are a local direct lender located in Warren Mi. I would love to help get you PRE APPROVED. Please give us a call at 586-554-2060 we can have you approved in 30 minutes.
0 votes
Christopher…, Agent, Tarrytown, NY
Tue May 13, 2014
Look into FHA loans. Wells Fargo has recently lowered their credit score requirements to 600 on these loans. Your loan officer will have to qualify you though..
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Brad.T, Home Owner, Westland, MI
Tue May 13, 2014
Try lending tree. You will be able to get an idea for who may be interested in providing a loan based on that credit score.

As others have mentioned, there are other factors included in buying a home.

Other than credit score, you need to factor in your residual income. This is the money you have left over after all of your monthly payments.

For a home that you want to buy, there is a certain minimum residual income level that you need. This number is calculated based on all of your monthly payments, your house payment (principle, interest, taxes, insurance, mortgage insurance) and square footage of the home.

A good lender will work with you to develop a strategy to get to where you need to be to purchase the home you're looking for.
0 votes
Derek Tunison, , Clinton Township, MI
Mon May 12, 2014
I am a mortgage specialist in Macomb, MI. I would be happy to help you get a pre-approval and financing for a home. As long as your compensating factors are in line you can get financing with a 615. If you are interested in obtaining financing, please call me tomorrow any time for a brief application. Good Luck!

Derek Tunison
Sr. Mortgage Specialist
First Mortgage Corporation
NMLS 162605
(Cell) 586-306-8994
0 votes
Brian Nguyen, Mortgage Broker Or Lender, Mission Viejo, CA
Tue May 6, 2014
It seems that your scores in your range should work. Lenders like myself can go as low as 580 when it comes to credit scores. Of course, your other finances will need to be in place as well including your income, debt, assets, employment, expenses, etc. The best thing for you to do is to speak with a knowledgeable lender like myself to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!

Brian Nguyen
Sr. Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
0 votes
Harold Lear, Agent, San Diego, CA
Tue May 6, 2014
Yes you can,,, We have a new loan its 100% financing, No Credit verification, No Income verification, We can do the loan in any state, or any country, Any Size loan, Owner occupied or Non Owner Occupied, Our closing cost are lower than traditional Financing and the payment is very competitive.
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