Can I get a loan with a low credit score?
How can I get a mortgage with a low credit score? I have had some financial setbacks in the past and my credit score is currently below average. However, I have a steady income and I am confident that I can afford a mortgage. What are my options for getting a home loan with a low credit score? Should I consider an FHA loan, a VA loan, or a conventional loan? Are there any lenders who specialize in working with borrowers who have poor credit? Additionally, what steps can I take to improve my credit score before applying for a mortgage? by jasper808 from Agoura Hills, California. May 17th 2023
Dan Paladin (dpaladin)
#356 ranked lender in California - 792 contributions
Conventional has a min of 620 Fico. FHA and VA are more lenient. I would need to consult with you to determine your best options. You can start here: www.dpaladin.comif you like or 562.261.550.
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
My best answer is to simply reach out to a mortgage broker like ourselves, give them a full application. They can then zero in on exactly what programs and options are available to you today, or if you need to do something like improve credit before being able to obtain a mortgage loan. Instead of you trying to guess which program to try for, let the experts direct you. I lend in FL, MN, WI, IA, ND, SD. | Cambria Mortgage, NMLS 274132 | https://www.cambriamortgage.com/mortgage-member/joemetzler/
Dave Skow (daveskow)
#15 ranked lender in Washington - 455 contributions
thanks - get a pre approval started to learn the options you have - good luck
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