Posted on: 15th Dec, 2013 11:17 pm
Hello there... My husband is looking for a mortgage but he has a credit score of 608. Will it be possible for him to get a loan?
Hi Guest,
With a credit score of 608, your husband may be able to get qualified for a FHA loan. He should contact the local FHA lenders and take his help in this regard.
Thanks,
Jerry
With a credit score of 608, your husband may be able to get qualified for a FHA loan. He should contact the local FHA lenders and take his help in this regard.
Thanks,
Jerry
Hi Guest!
Welcome to the forums!
FHA loans might be available with this score but you cannot get a conventional loan. In order to get a conventional loan, you should have a credit score of 720.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
FHA loans might be available with this score but you cannot get a conventional loan. In order to get a conventional loan, you should have a credit score of 720.
Feel free to ask if you've further queries.
Sussane
Since your husband has 608 credit score, he may not be able to get a conventional mortgage. However, if he wants, he may talk to the lenders for an FHA loan.
Some lenders do not have overlays (additional guidelines or rules) so they lend down to a 580 on an FHA loan.
In order to get the best rates and terms we could use a credit simulator (free of charge to you) to determine how to raise his scores.
If you would like to discuss your loan scenario feel free to contact us at 800 315 8803.
In order to get the best rates and terms we could use a credit simulator (free of charge to you) to determine how to raise his scores.
If you would like to discuss your loan scenario feel free to contact us at 800 315 8803.
No, with such a score, you won't be able to get a conventional loan. Go for immediate credit repair and then approach a mortgage lender.