Posted on: 24th May, 2007 03:11 pm
I am looking for a mortgage but have low scores, will I be able to qualify? how much score is actually need..and are there any programs for people with low scores
Hi Marget,
Welcome to Mortgagefit forum.
Can you tell us about the score from all the three agencies are like?
Even if your score is low, you can qualify for mortgage and loans such as fha mortgages apart from many others do not consider credit score as the main criteria to qualify.
Colin
Welcome to Mortgagefit forum.
Can you tell us about the score from all the three agencies are like?
Even if your score is low, you can qualify for mortgage and loans such as fha mortgages apart from many others do not consider credit score as the main criteria to qualify.
Colin
fha loans are possible with bad credit also but their are loan limits based on where you live. if you are looking for a house priced higher than the limit specified for your region then you will not be able to qualify.
FHA is not only an option, but it is the option for FICO challenged borrowers that want a high LTV loan with rates comparable to conforming...
Sure there are other programs, but FHA is still delivers the lowest cost of borrowing in the no or low credit score lending niche...
Regards,
Scott Miller
Sure there are other programs, but FHA is still delivers the lowest cost of borrowing in the no or low credit score lending niche...
Regards,
Scott Miller