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caroline
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 Posted: Mon Mar 02, 2009 3:36 pm Post subject: home loan |
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i don't have the best of credit. in fact i think it's only around 645. anyways i keep hearing that my friends are getting homes. is there only certain companies that will work with people like that, & with a bad credit score. i've never owned anything. i would like to own home
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 msnover92571
Joined: 10 Feb 2009
Posts: 145
Location: California
0.45 Dollars($)
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| Posted: Mon Mar 02, 2009 4:43 pm Post subject: |
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| There are FHA loans available. Which require a score of only 580 and only need 3.5% as a down payment. |
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eric1
Community Experts
Joined: 04 Jan 2009
Posts: 1414
209.98 Dollars($)
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 9791
Location: bloomfield, ct
42.59 Dollars($)
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| Posted: Wed Mar 04, 2009 9:35 am Post subject: |
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that's true, eric, but conventional loans will punish a borrower with that kind of score, particularly if there's minimal down payment.
i think fha is definitely a better bet, though your circumstances might warrant checking into conventional also, caroline.
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