can you finance a home loan with a median score of 567

An FHA loan, with 3.5% down, could be your answer.

Yes you can obtain financing with a 567 or less credit score through FHA. If you are interested in getting pre-approved, please feel free to contact me directly.Steve Patton949.734.7307steve.patton@sav-more.com

Yes, FHA does allow for a credit score of 567 subject to approval. Contact a local fully licensed mortgage originator in California. www.namb.org is the association of mortgage professionals where you can put your state in the search and find a member near you that can help you locally.

Yes, as low as 3.5% down ..but you will also have other qualifying factors

Depending on the reason for your low score, there are some lenders who MAY be able to help you get a FHA mortgage but normally you'll need more than the minimum downpayment which is 3.5% for FHA (my understanding is that normally you'd need 5-10% or more downpayment with that score to actually get an approval). However, to get a reasonable/market mortgage rate and more smooth approval you need to work on improving your middle score (not the highest or the lowest, the one in the middle) to over 640. Many of the lenders that offer the low score option use that as a "hook" to bring in potential borrowers but then the process is dragged out while they try to get the credit score and other qualifications improved. Check out my blog on this site: "First Steps" for some suggestions. I'm here in SC, feel free to contact me if you have specific questions. pdumouchel@primelending.com

Possibly, but it would be vey difficult.. FHA will allow 500 credit scores, however if your score is below 580, you need 10% down payment.. Also understand that FHA does not lend money.. they only insure loans against default.. the lenders, or those with the $$$ will have their own set of rules above and beyond what FHA calls for.. it's these "Overlay's" that require 600, 620 or 640 credit scores.. and understand that the lower the allowable score a lender has, the more strict the guidelines and few that apply actually get approved.. You're far better off working on raising your credit score.. get it above 640, and you would have endless possibilities.. my advice.. contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

I have a 567 score can I get approved for a loan on a house with no down payment