Compare Mortgage Quotes

ttazz3169 · Joined: 03 Aug 2008 Posts: 1 1.28 Dollars($)

hi i just check my credit score it is 562 is there any way i can get a loan to buy a home

kpatrick · Posted: Sun Aug 03, 2008 8:04 am Post subject:

Hi ttaz,

Your best chance would be with an FHA loan, but it really depends on what is bringing yur score down. Are there open collections? Are they old? Was there a bankruptcy? Did any of the collections happen after your bankruptcy?

You need to get with an experienced lender who can counsel you on things that might bring your score up to above 580, which will make it a lot more likely. You can go with someone you know or who was referred to you by a friend or family, or you can requet that one of us on this site to contact you.

It won't be a slam dunk, but with the right guidance, it should be doable.

Good luck,
Kim

sara · Posted: Mon Aug 04, 2008 12:00 pm Post subject: RE: home loan with 562 score

Hi Ttazz,

Welcome to the forums.

Frankly speaking, chances are nil except if you qualify for FHA insured loans. But it's possible only if you don't have late pays for past 12 months, collections etc on your credit.

Hey why don't you just wait for some time, clean up your credit and then buy a home? Things would be much easier I guess. Just check out the Credit repair tool which helps fix bad credit.

Take Care

Property State:
Property Type:
Credit Rating:

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

All times are GMT - 7 Hours

Page 1 of 1