Need house loan

Asked by Steffl_2005, , Thu Aug 23, 2012

I own my own small trucking business and I'm starting a family and need to buy a house all houses are over 1,000 bucks to rent, want to barrow 70,000 but credit is only at 560 because of my immaturity when I was younger can I get a loan

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Fritz Walter, Agent, Milford, CT
Thu Aug 22, 2013
Hi, unfortunately with a 560 score you will not be able to qualify for a loan. You need to work on your credit. I would humbly suggest you wait till you have at least a 620 or even a 640 Middle Fico score. If you need a company to help you work on your credit you can call Kim Danna at StoneGate Advisors, LLC. She can be reaced at 972-590-8880.

All the best,

Fritz Walter
0 votes
Melissa Goss, , Center Moriches, NY
Thu Aug 22, 2013
Not likely with a score that low. You will want to work on your credit before any lender will be willing to give a loan.
0 votes
Zach Seales, , Columbia, MO
Thu Aug 22, 2013
Unfortunately not. It is very difficult to find a lender that will deal with a 560 credit score. To get a descent rate you need a 620 and a couple good lines of credit. We were all immature when we were younger, but the unfortunate thing is all that matters is what shows up on paper on the credit report. I would suggest looking into some credit recovery. If you would like a good credit recovery company please contact me and we could possibly help you when that is resolved.
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