Especially is their FICO is below the typical 620.
Countrywide has a sister company that works with people who have lower credit scores and usually it is done with a fixed rate also. You could go to countrywide’s website or call them.
Can anyone recommend a bank or mortgage company that approves home loans for people with not so good credit?
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not a lot of lenders are doing sub prime paper right now, and the ones that are, it comes at a cost! you want to check with your bigger company’s!
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Countrywide has a sister company that works with people who have lower credit scores and usually it is done with a fixed rate also. You could go to countrywide’s website or call them.
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Call Countrywide Direct. They are a direct lender, so you will know for sure if you will get your loan. They also have programs for people with credit as low as 500.
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Try Lending Tree. They will shop around for you and you should get an offer from someone. The interest rate will probably be higher according to your credit rating.
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First, have you reviewed all 3 credit reports for errors. If no, do so; it takes anywhere from 45-60 days to fix errors or disputes yourself ( debt that’s been paid and you have proof).
Next, try lendingtree.com.
Even if you’re credit is not so great, you may be able to get a decent rate- some company somewhere wants your business. You can compare rates and terms between potential lenders. Usually a response in 24-48hrs.
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Yeah it’s possible, I have actually done 3 loans below 500 in the past two months, the FHA has changed it to 500 and up recently. The rates I was able to get for people through the FHA were about 2 percent better than the subprime lenders, because there is less risk when it’s government backed. My advice is to find a mortgage broker who can find the best available for your situation.
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Mortgage questions?
Email me at scornwell@newworldfederal.com
You will be ripped off if you obtain a home loan with that type of FICO score.
I recommend that you RUN AWAY from signing up for more debt!!! It has not been helping you, and it appears to be really tearing at you.
I made a decision in 2002 to say NO! to more debt and became debt-free in 14 months!!! There is NOTHING like knowing you are debt-free!!!
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http://www.josephsangl.com