does anyone know of a lender that can help if you have a credit score of 550?

Asked by kenmisty, Decatur, TX Mon Oct 22, 2012

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The United H…, Agent, Mansfield, TX
Mon Dec 3, 2012

Honestly your best bet is to bring your credit score back up. Feel free to contact me directly in order to get in contact with an experienced and well seasoned lender that will give you a step by step guide of what you should be doing to bring that credit up to where it needs to be. In the end it will save you more time and money than attempting to find a lender that will except a low score, which will probably lead to higher interest rates and larger cash deposit.

Keller Williams Realty
Real Estate Consultant
Joseph Fernandez
cell: 817-975-7258
off: 817-635-1157
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Don Groff, Agent, Austin, TX
Tue Oct 23, 2012
You should really get with a good lender who will work with you to get your credit back in order. You really can't do anything at this point. Find somebody who will take the time to educate you and help you get things moving in the right direction. If you make some good choices today you may be able to buy something in as little as a year... but until you fix the problem nothing will change.

Best of luck to you,

Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157 |
0 votes
Annette Levi…, , New York, NY
Tue Oct 23, 2012
HUD does not give out mortgages, they only insure them under their FHA program. Your score is an indication that you do not know how to handle money. Go to your local non profit housing group for credit counseling. They will tell you what you are doing wrong and how to fix it. Follow their advice and when your score is 640+ you can look at homes.
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Susan Mansch, Agent, Willow Park, TX
Tue Oct 23, 2012
Hud will give loans for 500 credit score or better but your down payment will be higher at 10% and the loans are still hard to get. You mat want to save your money until you have this down payment and try to pay off some of your debts to better your credit score. I would be happy to assist you in finding a HUD lender
0 votes
Tommy Burris, Mortgage Broker Or Lender, Baton Rouge, LA
Mon Oct 22, 2012
It isn't the score as much as the reason for the score that will likely be hurting you.
Old bad credit isn't a problem.
New bad credit is a problem.
No good accounts to offset the bad stuff... a problem.

The above link is to a free book about credit. Read it and provide me with a credit report and we can talk about what you need to do to be 'Mortgage Ready'

Tom Burris
Mortgage Banker
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration =>
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