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.

FAIR CREDIT, WHERE DO I GO TO GET A LOAN?

I HAVE A CREDIT SCORE OF 569 I WAS DENIED BY AMERICA MORTGAGE ,CAN I GO SOME WERE ELSE TO SEE IF I CAN GET APPROVE THOUGH SOMEONE ELSE? HERE DO I GO? EVEN TOUGH THEY HAVE ALREADY PULLED MY CREDIT REPORT?

jenkin7's picture
jenkin7 | Joined: June 4, 2007 11:02 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Rusty,

With a credit score of 569, you will find it very difficult to qualify for a home loan. Lenders now require you to have at least a score of 600+ points to get approved for a loan. I doubt whether any lender would want to offer you a loan until you improve your credit. I think you should first work on your credit. Pay off your debts, remove the negative items from your credit report and pay your bills on time. Once you have a 600+ credit score, you can start applying for a mortgage.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:43 | Post subject:

sherinestanly's picture
sherinestanly | Joined: July 8, 2009 02:44 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hey rusty, jenkin's right..... u need to improve ur scores.... 569 is low, 620 is the standard scores required now. y dont u get hold of a good lender, he can help u out in improving ur scores n thn u apply 4 Home mortgage loans... u get good rates n terms if u hav real good scores n it also secures u from any future financial pobs...

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:43 | Post subject:

eric1's picture
eric1 | Joined: January 4, 2009 03:52 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

There are some local banks that will work with a lower score if there are other compensating factors. Those factors would be high income and low LTV. For example, I work with a bank that does not use the scores as a deciding factor at all. However, they only lend in the northeast.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:43 | Post subject:

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

well it might be difficult but my husband and I got a loan with a 589 top score......all we had to do was have a reserve savings account with at least 6 months payments in it

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:43 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Thanks for sharing your experience in the forums!! :)

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:43 | Post subject:

sabrinatoss's picture
sabrinatoss | Joined: January 16, 2011 09:00 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Work first on improving your credit scores. If you can no longer wait for that then try out a guarantor loan.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:43 | Post subject:

Page loaded in 0.099 seconds.