can i buy a house with a 600 credit score and 10,000 down?

Asked by Momof2boys, Lawton, OK Thu Jun 2, 2011

My husband makes 1700 a month can we buy a house with a 600 credit score and 10,000 down?

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Jennifer Blackwell’s answer
Jennifer Bla…, Agent, Owasso, OK
Sat Jun 11, 2011
Hi again Mom of 2 Boys:

Sorry, I didn't see your response til just now. You may try a local bank, Bank of the Union or Bank of Union City: http://www.bankofunion.com/aboutLocations.cfm, sometimes they are able to lend in situations where a large corporate bank may not be able. Republic Bank is another local bank with similair programs: https://www.rbt.com/personal/loans/personal-mortgage-needs And, It's worth a shot!

Again, Good Luck!

Jennifer Henning
REALTOR | GREEN Designee
[p] 405.625.1576
[e] Jenn@JenniferSellsOklahoma.com
0 votes
., , Lawton, OK
Fri Jun 3, 2011
BEST ANSWER
Yes you can. Wells Fargo had a 600 program. I just closed a 601. If you would like any help in the Lawton area call or email me. Ill be glad to help.
1 vote
Jennifer Bla…, Agent, Owasso, OK
Thu Jun 2, 2011
Hi Mom of 2 Boys:

It's possible. I do know a couple lenders that offer a 600 credit score loan product. There are always other factors when applying for a loan. I can forward you the lender's info, if you'd like.

Jennifer Henning
REALTOR | GREEN Designee
[p] 405.625.1576
[e] Jenn@JenniferSellsOklahoma.com
1 vote
Charles Barg…, Agent, LAWTON, OK
Fri Jun 3, 2011
mortage co told me it had to be a 620
0 votes
Stefjohn, , Lawton, OK
Fri Jun 3, 2011
If you are eligible for a VA loan, there is no credit score minimum at Bank of America, they are all about your debt to income ratio. If not, it would depend on the type of home you select. There are FHA programs that have a minimum of 580. Please contact me if I can help you further.
Stefanie Johnson
Coldwell Banker Crossroads Realtors
(580) 583-5238
0 votes
Momof2boys, Home Buyer, Lawton, OK
Thu Jun 2, 2011
That would be great Jenniffer Thank you so much.
0 votes
Carmen Brode…, Agent, Scottsdale, AZ
Thu Jun 2, 2011
I would contact your bank. They change lending guidelines all of the time so you really need to consult a lender for this one.
0 votes
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