Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

588 score and mortgage

My husband has a fico score of 588. Are there any lenders who will qualify him for FHA or USDA loan of $250,000. He makes $50,000 a year, and he has been in the same profession for 16 years. Also, would having a judgement removed from his credit report increase his score at all.

Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Your husband will require a credit score of 620 in order to get a FHA or a USDA loan. Though he has a good income and stability of job, the lender will require him to fulfill the criteria of credit scores as well. If a judgment gets removed from his credit report, it will definitely have a positive affect on his credit report and increase his scores.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:53 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Thanks for the info.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:53 | Post subject:

JKennedySLG's picture
JKennedySLG | Joined: April 1, 2009 08:07 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

There are a handful of lenders whom will underwrite FHA loans down to a 580 credit score. In order to get approved, you must show compensating factors (utility bills, 24mth rental history, etc.) making up for lack of credit worthiness. Please specify your location and someone within the community may be able to better assist you. I hope this helps...

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:53 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Any Reps in Georgia

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:53 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Roy!

Welcome to forums!

With a credit score of 588, it will be difficult for you to [url=http://www.mortgagefit.com/Mortgage-Basics/do-i-qualify-for-a-mortgage.h... for a mortgage[/url]. Even to qualify for a FHA loan, you'll require a credit score of around 600-620. You can contact the local lenders in your area and check out if you can get a loan. This community has a large number of lenders. You can seek a no obligation free mortgage quote from them and check out if they can help you with a loan.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:53 | Post subject:

Page loaded in 0.099 seconds.