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Hello I m looking into but a 1980 mobile home on 1.3 acres do you think i could get a loan for $25000 .

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evamclendon Joined: 15 Dec 2009 Posts: 1 1.00 Dollars($)	Posted: Tue Dec 15, 2009 8:12 pm    Post subject: Hello I m looking into but a 1980 mobile home on 1.3 acres d Like 0 Dislike 0 I m looking into but a 1980 mobile home on 1.3 acres do you think i could get a loan for $25000 ....my score is 551
smithsussane Joined: 18 Sep 2008 Posts: 10030 Location: Alaska 919.49 Dollars($)	Posted: Tue Dec 15, 2009 9:30 pm    Post subject: Like 0 Dislike 0 Hi evamclendon! Welcome to forums! With a credit score of 551, it would be difficult for you to qualify for a loan. If you are planning to take a FHA loan, you should have a credit score of at least 620. Moreover, you should not have much negative items in your credit report if you want to qualify for a loan. If you want a conventional loan, you would require a credit score of 700-720. I would suggest you to improve your credit score first and then look out for a loan. Check out the given page to know more about improving your credit score: http://www.mortgagefit.com/credit-rating/credit-repair.html Feel free to ask if you've further queries. Sussane
raymond Community Expert Joined: 03 Jul 2009 Posts: 1166 Location: Irvine, California 24.79 Dollars($)	Posted: Sun Dec 20, 2009 4:47 pm    Post subject: Like 0 Dislike 0 >>do you think i could get a loan for $25000 No - not with that FICO score. _________________ Raymond Denton www.raymonddenton.com

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