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Company Loan Type APR Est. Pmt.

Mobile home mortgage

Posted on: 17th Mar, 2009 02:55 pm
I found a mobile home on land listed at 49,900. I can do 3.5% down. Credit score is 609. I'm having trouble financing. Is there a way to do this?
Hi bojellie,

With a credit score of 609, I think it will be difficult for you to get a loan. In order to get a FHA loan, the minimum credit score required now is 620 whereas in order to get a conventional loan, you'll require a credit score of 700.

I would suggest you to improve your credit score first and then look out for a loan. To know more about improving credit, check out the following link:
http://www.mortgagefit.com/credit-rating/credit-repair.html

Thanks
Posted on: 17th Mar, 2009 07:29 pm
really tough better try after some time so that you will have a good credit score.by that time try to improve your score.thanks. :wink:
Posted on: 17th Mar, 2009 10:55 pm
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