need a home loan I have 583 credit score clean credit report sign a purchase and sale . need help asap

Asked by Sharice, Brockton, MA Sat May 16, 2009

My credit score is now 582 Itry to pay of a bill on my credit report and when it was paid they deleted it and Iam closing june 5 with no loan commitment, my broker said he can use alternate tradelines but no bank is picking it up, and now my credit is very clean, they house that I wanted to buy with everything is lower than what I pay for what now. I need help asap any answers will be helpful. Thanks A mother in Need email

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Jessica Bate…, Agent, Beverly Hills, CA
Fri Nov 1, 2013
Yes! I have had clients get approved with just a 580 credit score. Check out The Lenders Network they can get you to a lender to help you out, they work with all the lenders that work with credit issues.
1 vote
they all want you to go into this program and it ends up costing you more money then you want to spend and they really don't help at all the best way is to pay off your credit a little at a time and save your money and this in from life experience because that all the credit help companies do good luck
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Melissa Manc…, Agent, Plainville, MA
Sat May 16, 2009
Hi Sharice - It is very hard to obtain a mortgage with a credit score less than 680. Some programs allow for a score of 620, but that is rare. I wish I had better news. I'm hoping someone else on here can help you, because I have no idea where to direct you to.

Best of Luck,

Melissa Mancini
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1 vote
Anthony Piem…, Agent, Boston, MA
Wed Oct 16, 2013
Hello! I have a lender that just got a client with a 580 approved for a mortgage, contact me for more information.
0 votes
Jadreamin1012, Home Buyer, Brockton, MA
Sun Sep 16, 2012
I am adding a question to this.

My credit score is 617 today. I am moving back to MA from FL in the spring.

1st last and sec would amount to about the same as 3.5% down on a $100,000 campi ranch.

If I get stuck in lease for a year prices and or interest rates could go up.

Is my situation hopeless?
0 votes
Belinda Arro…, , 02038
Thu Sep 17, 2009
I would like to discuss this further with you. I may be able to help or at least direct you in the right direction.
Call me at 508-446-5693

Belinda Arroyo
0 votes
Ben101, , Manchaca, TX
Tue Jul 14, 2009
Good Day

Do you need a loan to upset your debts or to increase your financial
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0 votes
Greer Swiston, Agent, Newton, MA
Sun May 17, 2009
First of all ... don't sign a P&S without a mortgage contingency. Make sure that your deposit money is protected on condition that you can get a mortgage commitment a week before closing.

I am aware of programs that can help if you don't have a lot of money to put down, but I'm not aware of too many programs that can assist you if your credit score is too low other than encouraging you to take the time and effort to improve it. Rent for a while and pay rent on time all the time. Use a credit card that you pay off every month on time all the time. A mortgage advisor can better coach you on how to best improve your credit score, but a lot of it takes time and persistence.

Will this property give your a rental option until you're able to get a mortgage commitment?

Don't get pushed into or tempted into a financial situation that you can not comfortably support.. Best of luck.
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