While many lenders won’t loan you the money for a home with a score below about 640 nowadays, there are a lot of FHA lenders who will (depending on the specifics in your credit) give you a loan with a 580 mid credit score. This assumes you have sufficient income, have the newly required 3.5% down payment, have no Chapter 7 bankruptcy in the last 2 years (from discharge date) and no foreclosure for 3 years. Good luck.
November 21st, 2011 at 6:05 pm
While many lenders won’t loan you the money for a home with a score below about 640 nowadays, there are a lot of FHA lenders who will (depending on the specifics in your credit) give you a loan with a 580 mid credit score. This assumes you have sufficient income, have the newly required 3.5% down payment, have no Chapter 7 bankruptcy in the last 2 years (from discharge date) and no foreclosure for 3 years. Good luck.
November 21st, 2011 at 6:05 pm
There is no "one" answer. Depends on many factors.
November 21st, 2011 at 6:05 pm
it really depends on their income length at job etc…you can get an fha with a fairly low fico score….