where can I get a home loan with poor credit?

Posted by onlineapproval | Renting Real Estate | Tuesday 27 October 2009 12:31 pm
ashley asked:


my credit score is approximately 485-513. I am looking for about a 40,000 loan in the Springfield, IL area, but cant find any place that will lend. PLEASE HELP!

home loan

7 Comments »

  1. Comment by Beverly S — October 28, 2009 @ 9:25 am

    home loan

    I **** to say this but your score is horrible. There is no lender who will go this low- even when we were doing sub-prime lending it had to be a 580. Now 620 is the minimum and that is not considered a high score.

  2. Comment by daniel r — October 28, 2009 @ 5:24 pm

    home loan

    the minimum credit score needed for a traditional lending source is 620. You will need to find something where the owner will hold the note.

  3. Comment by golferwhoworks — October 29, 2009 @ 4:38 am

    home loan

    it is possible if you have at least 50% down payment then there are still a few hard money lenders out there with rates about 15%

  4. Comment by Pengy — October 31, 2009 @ 9:29 am

    home loan

    With that score you cannot even get an FHA loan, minimum 620. Work on improving your credit score first, then see about mortgaging a home

  5. Comment by Fame_us — November 2, 2009 @ 11:48 am

    home loan

    you need a 620.

  6. Comment by Ronika — November 5, 2009 @ 6:40 am

    home loan

    Hello,
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  7. Comment by Gecko — November 8, 2009 @ 6:43 am

    home loan

    creditreport.imess.net - try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.

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