I AM IN DESPERATE NEED OF A LOAN WITH 567 CREDIT SCORE

Author Message
AMENDOZA

Guest







Post Posted: Wed Feb 03, 2010 6:15 am    Post subject: I AM IN DESPERATE NEED OF A LOAN WITH 567 CREDIT SCORE
Like
Dislike

I HAVE BEEN MAKING PAYMENTS ON A HOME THAT IS IN MY MOM'S NAME FOR 3 YEARS NOW. SHE HAS GOTTEN UP IN AGE AND NEEDS THE LOAN AND DEED TAKEN OUT OF HER NAME FOR SOCIAL SECURITY REASONS. MY CREDIT SCORE IS 567 NOT GREAT I KNOW BUT I HAVE A CO-SIGNER (MY DAD) FOR THE TRANSFER OF THE LOAN. WILL I BE ABLE TO GET THE LOAN TRANSFERRED TO ME WITH MY CREDIT SCORE AT 567 WITH A CO-SIGNER. THE LOAN IS THROUGH A LOCAL BANK.
Icon Mini Profile tfaulhaber1
tfaulhaber1
Community Expert
Community Expert

best lender badge

Joined: 17 Dec 2009

Posts: 562

75.68 Dollars($)
Post Posted: Wed Feb 03, 2010 8:16 am    Post subject:
Like
Dislike

Your local bank has a credit score requirement. Find out what it is and you'll have your answer. Most require a 620 credit score but, you'll find some that will lend down to 580.
_________________
Theo (Ted) Faulhaber
516-403-9116
516-634-4417
tfaulhaber (at) vanguardfunding.net
Icon Mini Profile jenkin7
jenkin7




Joined: 04 Jun 2007

Posts: 4537
Location: Hawaii
728.42 Dollars($)
Post Posted: Thu Feb 04, 2010 3:08 am    Post subject:
Like
Dislike

Hi Guest,

You need to have a credit score of at least around 620 to get apporved for a home loan. With a credit score of 567, it is going to be very difficult for you to qualify for a mortgage loan. If you have insufficient income, your co-signer can help you qualify for the loan. But he cannot help you if your credit is not good. You need to improve your credit in order to get approved for a loan.
Icon Mini Profile bg0427



best lender badge

Joined: 27 Jan 2010

Posts: 90
Location: Florida
0.54 Dollars($)
Post Posted: Thu Feb 04, 2010 5:01 am    Post subject:
Like
Dislike

Take a look at your credt report and try to verify what is causing you to such a low score. THrough a rapid rescore you could probably get over the 580 marker and qualify for a fha mortgage.
_________________
Bradley D. Gertz
561-201-1888
561-909-1314

www.yourbankloan.com
www.lowestjumborates.com
www.callawayconsultinggroup.com (free loan mod & short sale info)
Icon Mini Profile riseabove





Joined: 09 Nov 2009

Posts: 277

11.01 Dollars($)
Post Posted: Thu Feb 04, 2010 3:59 pm    Post subject:
Like
Dislike

Assuming of course you can rectify the reasons for the low score in the first place.
_________________
Instant mortgage quotes available online
Low rate mortgage refinance
Latest Florida mortgage rates
ADRIAN HERNANDEZ

Guest







Post Posted: Thu Jun 03, 2010 2:30 pm    Post subject: NEED A HOME LOAN ASAP
Like
Dislike

I DESPERATELY NEED SOMEONE WHO CAN GIVE ME A HOME LOAN. MY TOP TWO SCORES ARE 606 AND 576. PLEASE CALL ME AT 773 8014873.
Icon Mini Profile smithsussane
smith.sussane




Joined: 18 Sep 2008

Posts: 12591
Location: Alaska
1308.69 Dollars($)
Post Posted: Fri Jun 04, 2010 12:59 am    Post subject:
Like
Dislike

Hi ADRIAN!

Welcome to forums!

Your scores are quite low. In order to get a FHA loan, you would require a score of 620 whereas if you plan to get a conventional loan, then you would require a score of 700-720. I would suggest you to improve your score first and then look out for a home loan. Check out the given page in order to know some steps to improve your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html

Feel free to ask if you've further queries.

Sussane
Icon Mini Profile sunil87020





Joined: 04 May 2009

Posts: 341

27.18 Dollars($)
Post Posted: Sun Dec 12, 2010 7:26 am    Post subject:
Like
Dislike

Most of people in community already suggested you for credit score to qualify will be 620.

It is possible to get mortgage loan below this credit score provided you have to search for it locally. Go through local news papers. contact local lenders with your requirement.

This will help you.
Best Luck
All times are GMT - 7 Hours
Page 1 of 1

 

Page loaded in 0.492 seconds.