What would the possibility of getting approved for a home loan for someone with low credit scores?

Asked by Diane Knowlton, Rogers, AR Sun Apr 5, 2009

I am interested in the property at 1801 S 11th Place, Rogers AR 72756.

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2
Nicole M. Ch…, Agent, Rogers, AR
Sun Apr 5, 2009
Hello Diane,

The best recommendation I have for you is to call a reputable lender. I have used Tim Parnham with Metropolitan Bank in Rogers, personally and professionally and have been pleasantly pleased with his service always. His contact number is 479-845-4764 and his email address is tparham@metbank.com or contact the bank that you have an established relationship with. There are a variety of loans available, credit score is important and the better the credit score the better the loan program and interest rate; but even with a low credit score there may be a variety of options or programs available for you and some sellers are assisting buyers in closing costs so don't rule anything out without talking to a lender. It's a great time to buy a home and worth a try to see what you can do towards purchasing a home and an investment.

Good luck, if you need a real estate agent to represent and guide you throughout the home buying process, please allow me the opportunity to work for you. My name is Nicole Chervenyak I am with Coldwell Banker Faucette in Rogers and my email is ncherv@coldwellbanker.com and phone number is 479-633-3708.

Have a great week.
Nicole
0 votes
Dana Schuster, Agent, Slidell, LA
Sun Apr 5, 2009
For an
FHA loan you need a down payment of 3.5% of purchase & a 620 credit score. For conventional 20% down & A 720 credit score.
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