my credit score is at 500 range and my husband is at 600 range. it's there a morgage loan program out there for poor credit score?

Asked by kim cuong, Rochester, MN Mon Apr 7, 2014

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Dan Tabit, Agent, Issaquah, WA
Mon Apr 7, 2014
Kim,
If you don't need your income to qualify, you may be able to qualify for an FHA loan in just your husbands name. FHA will consider scores as low as 580, but not all FHA lenders work with that, so you may have to look around.
If you do need both incomes to qualify, you should take some time to fix your credit. The basics are; pay all bills on time, pay down balances to 1/3 or less, do not close any accounts or pay off old collections unless your loan officer suggests it. Save up all you can, down payment helps.
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Amanda Chris…, Agent, Fort Wayne, IN
Mon Apr 7, 2014
It doesn't sound very promising. Your best bet is to contact a local lender and talk with them.

Best of luck!
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Sarah Leonard, Agent, Schaumburg, IL
Mon Apr 7, 2014
You may be able to qualify for an FHA loan. The best way to find out would be to talk to a lender about your options. The attached link has more info on loans and low credit scores. Good luck!

http://www.realtor.com/advice/how-to-get-a-mortgage-with-bad…
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