Need Mortgage advice for a person with crappy credit score 610-620 range.

Asked by Eva Zhang, Seattle, WA Mon Jul 8, 2013

i do realize its a broad generic questions.
are there any decent mortgage products available for a person with credit score in 610-620 range?
Would prefer to stay below 10% down, for home purchase.
Just doing due diligence before going out looking for places ( Seattle).

thank you.

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ryateslenders, Agent, Plano, TX
Sat Nov 23, 2013
A minimum 580 credit score is needed for FHA loans which requires 3.5% down. If you want a referral to a lender I'd be glad to help you out.
2 votes
Eva Zhang, Home Buyer, Seattle, WA
Mon Jul 8, 2013
thats great advice, thank you.
1 vote
, ,
Fri Jan 31, 2014

Eva –

Hi there …are you still considering purchasing a property ? Do you still need soem assistance on reviewing the credit reports ?

Thanks and feel free to stay in touch

Dave Skow 206 714 9745
0 votes
, ,
Thu Jan 23, 2014
Yes we would be able to assist you on your purchase, if you have a little time credit repair can be easily done to get your scores up as well. I have 2 solid company's if you need assistance.
0 votes
Tanya Rhody, Agent, Washington, PA
Thu Jul 11, 2013
Wait until you hit the slightly over 640 credit number before you start applying. Pulls on your credit can reduce your score. At that point you can qualify FHA. Trying things like opening a credit card may work for you but can easily work against you too. You can keep track of your score for free on Their program also tells you how to improve your score. It is a really great site.
0 votes
, ,
Thu Jul 11, 2013
We can certainly help you out. You can check us out at and give us a call. One of our loan officers will look at your situation and present you with some options
0 votes
Edwin, , California
Tue Jul 9, 2013
If you are a veteran you can qualify for a va loan that will be the best way to go and no down payment needed. If not FHA like everyone said. If your home is in a rural area you can also qualify for a USDA loan. But the most importatnt thing that you need before buying a home is a pre approval letter that will make your life easy and i can provide that for you as many other programs that include cash back for home buyers. Feel free to contact me.

Edwin Mieles
Senior Loan Officer

Residential Finance
1 Easton Oval Suite 400
Columbus, OH 43219
614.754.2754 Direct
614.324.4700 Ext 1561
877.224.7657 Fax
NMLS: 986881
Company NMLS ID: 1652

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0 votes
Dan Tabit, Agent, Issaquah, WA
Mon Jul 8, 2013
I used them when I was a licensed lender. The lender I currently use provided their services for my buyer without charging for it. Contact me and I can provide you my lenders contact information.
0 votes or 425-868-7653
Flag Tue Jul 9, 2013
ok thanks do you have an email or how can i be in touch?
Flag Mon Jul 8, 2013
Eva Zhang, Home Buyer, Seattle, WA
Mon Jul 8, 2013
thanks Dan T
i have heard about rapid rescore but did not how to use or whom to approach
could you please advise?
0 votes
Dan Tabit, Agent, Issaquah, WA
Mon Jul 8, 2013
WAIT, do not apply for the credit card yet! Every application results in a new credit pull, and each time your credit is pulled your scores go down.
Step one is to dispute any errors on your report to each agency reporting them.
Step two is to pay down your balances to 1/3 or less of their high credit.
Step three is to not close any accounts or pay off any old collections until instructed by your lender.
Meet with a lender to discuss your options. The scores you see may not be the ones you see, they could be better or worse. I work with a great lender who uses RapidRescore to address many of the things in steps 1-3 as part of their service. They raised a clients scores through these methods more than enough to qualify for a loan.
I commend you on addressing first things first. Credit and pre-approval comes before looking, otherwise you find a home you love but can't buy and get frustrated.
I do agree that you are not far off, and in some cases may qualify. The more improvement your scores get your chances of approval go up and your rate can go down.
Best of luck.
0 votes
Ray Akers, Agent, Seattle, WA
Mon Jul 8, 2013
Don't despair, your credit score is within striking distance of an FHA mortgage. FHA requires 3.5% down payment. FHA was designed for people with 'crappy' credit.

Here's a tip for improving your credit. Get a Capital One pre-paid credit card, or one of their low-balance entry-level MasterCard's. Charge an item or two and then pay off the balance. Keep the balance on the credit card under 50% of the credit limit or it will hurt your credit score rather than helping it. In a few months, your careful use of credit will improve your FICO score.

Good luck!
0 votes
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