My credit scores are 513- 540 can I get a home loan for under $200,000. I have some unpaid bills on my credit report and a foreclosure in 2009 Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.
i just got notice from my lanlord that he is selling the property – my family has lived here for 4 yrs its a very nice house appraised at 92,000 – lanlord is giving me option to buy for 40,000 problem is my credit score is only 540 and i cant get a loan – i have one month to purchase the property or move – any advice on where i could get a mortgage? i have no family or friends that can help.
540 Credit Score. A 540 credit score won’t knock any lenders’ socks off, but it shouldn’t completely prevent you from being approved for a credit card or loan, either. For example, roughly 1 in 10 new credit card accounts are opened by someone with a credit score below 580, according to Equifax data.
If a loan officer will give the loan is totally up to them, I myself received my first home loan for 62000 with a score of 567, and I did that through my bank which is a credit union. The best answer to the main question here is a higher score is better but a loan with a smaller score is still up to the lender.
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Can i get a home loan with a 540 credit score? Asked by Jessejames2006, 92025 mon feb 22, 2010. My credit score is 540 mostly due to co-signing for a family member.My girl friend has a 605 credit score we are trying to get a home in the 90,000 dollar range is this possible?All of the debt due to co-signing have been paid off by myself.
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The 540 credit score and assuming the mortgage fico reflects similar levels is a cause for concern. You may want to work on improving it and relocate to somewhere else if you really do not want to be locked into where you are at addtiional fees.
With no effect on their credit score, applicants can see two loan terms and the corresponding rates to determine what best fits their budget. The company does not offer purchase loans. Although.