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Company Loan Type APR Est. Pmt.

mortgage for someone with a equifax score of 507

Posted on: 25th Jun, 2012 10:41 am
Hello is it possible to get a $40,000-50,000 mortgage with a score of 507? I will be able to put down 10%
FHA allows credit to 500, but finding a lender to lend with a credit score that low is going to be tough. Any collection must be paid and any disputed account must be resolved. If you can get 30-35% down, then you would be able to get a hard money or private party loan. Good luck
Posted on: 25th Jun, 2012 11:37 am
hello edselhealth,


if you take out a second mortgage on your home or use a line of credit, you can wipe out your assets if your business falters. other options such as credit card loans or tapping into personal savings are equally risky.

:idea:
Posted on: 25th Jun, 2012 07:51 pm
Hi edselheath!

Welcome to forums!

The credit score of 507 is very low and most lenders won't be ready to offer you a loan with such a low score. I will suggest you to improve your score and then apply for a mortgage. You can check out the given page in order to know some steps to improve your score: http://www.mortgagefit.com/credit-rating/credit-repair.html .

BTW, I did not understand what you wanted to say Sabrina!!

Feel free to ask if you've further queries.

Sussane
Posted on: 25th Jun, 2012 08:26 pm
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