if your credit is about 610 can you get a loan

Author Message
Icon Mini Profile salcedo5154





Joined: 10 Sep 2009

Posts: 2

1.77 Dollars($)
Post Posted: Thu Sep 10, 2009 6:30 pm    Post subject: if your credit is about 610 can you get a loan
Like
Dislike

my husband and I filed bankrupt 6 year ago and we due have a car note our credit is around 610 can we still get a loan for a moblie home. the home is park and you rent the spot.
Icon Mini Profile sunnyca2009





Joined: 04 Aug 2009

Posts: 1731

35.55 Dollars($)
Post Posted: Thu Sep 10, 2009 7:53 pm    Post subject:
Like
Dislike

You need minimumof 620 to get a FHA loan
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

Posts: 12160
Location: Nevada
1221.50 Dollars($)
Post Posted: Thu Sep 10, 2009 9:44 pm    Post subject:
Like
Dislike

Hi salcedo,

What type of loan are you planning to take? You should have a credit score of 620 in order to get a FHA loan. For conventional loans, you would require a credit score of 720-740. As your credit score is 610, you should try to improve it so that it reaches 620. Check out the following page to to know some steps to improve your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html

Once your credit score improves, you can apply for a FHA loan.

Thanks
Icon Mini Profile pettybob1





Joined: 07 Sep 2009

Posts: 37

0.24 Dollars($)
Post Posted: Fri Sep 11, 2009 5:54 am    Post subject:
Like
Dislike

your score should be 620 for FHA loan
Icon Mini Profile smithsara302





Joined: 12 Jun 2009

Posts: 116

-2.38 Dollars($)
Post Posted: Fri Sep 11, 2009 10:05 am    Post subject:
Like
Dislike

I think your credit should be 620 for FHA.
But you can check with local lenders to get it with less credit score.

Check with local lenders that may be in benefit of you.
Icon Mini Profile kas_mah80





Joined: 06 Sep 2009

Posts: 31

-0.11 Dollars($)
Post Posted: Sat Sep 12, 2009 7:38 am    Post subject: hi
Like
Dislike

hello,
what type of loan u need
if you wannt FHA loan u need minmum 620-630 credit score,
and if you need other loan you need more credit score.
Icon Mini Profile sunnyca2009





Joined: 04 Aug 2009

Posts: 1731

35.55 Dollars($)
Post Posted: Sat Sep 12, 2009 8:14 am    Post subject:
Like
Dislike

They are looking for loan on a mobile home
Icon Mini Profile ronb009





Joined: 17 Dec 2009

Posts: 12

0.00 Dollars($)
Post Posted: Sat Dec 19, 2009 4:18 am    Post subject:
Like
Dislike

You have to check locally with your local lenders.That will help you to get your required loan as per your finantial condition.
Icon Mini Profile gmakerley
gmakerley
Community Mentor
Community Mentor

best lender badge

Joined: 09 Nov 2007

Posts: 12377
Location: bloomfield, ct
58.69 Dollars($)
Post Posted: Sun Dec 20, 2009 9:28 pm    Post subject:
Like
Dislike

i concur - local lenders, who may be credit unions or smaller banks with a local presence only, are more likely to consider (we believe) granting loans to folk with checkered credit histories. of course, smaller banks (unless they're really rural) probably don't have much use for a portfolio of mobile home loans. in that case, you're probably better served looking for a company that specializes in that type of lending - again, probably portfolio, but not likely to be a bank or credit union. more likely, you'll find those in that business to be loan companies with rates higher than you will typically find on mortgages.
_________________
George M. Akerley
Mortgage Consultant
Word of Excellence- Writing/Editing/Proofreading
Icon Mini Profile riseabove





Joined: 09 Nov 2009

Posts: 277

11.01 Dollars($)
Post Posted: Mon Dec 21, 2009 5:39 pm    Post subject:
Like
Dislike

you can look at online lenders, or bad credit lenders but you'll probably want to try and get that score up a bit.

That said you may be able to get a loan, but it will most likely cost you more in interest.

_________________
Instant mortgage quotes available online
Low rate mortgage refinance
Latest Florida mortgage rates
Icon Mini Profile gmakerley
gmakerley
Community Mentor
Community Mentor

best lender badge

Joined: 09 Nov 2007

Posts: 12377
Location: bloomfield, ct
58.69 Dollars($)
Post Posted: Tue Dec 22, 2009 1:28 pm    Post subject:
Like
Dislike

yeah...do what it takes to bump that score is the best advice. you're only 10 points below what most lenders use as a minimum for fha lending - pay somebody off today and see the benefit.
_________________
George M. Akerley
Mortgage Consultant
Word of Excellence- Writing/Editing/Proofreading
Ask question
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message Body
All times are GMT - 7 Hours
Page 1 of 1

 
Delete this topic Move this topic Lock this topic Split this topic 

Page loaded in 0.329 seconds.