FHA Streamline with 500 score.....???

There are lenders out there that will lend down to 500... I'm not sure about IL, but here in AZ i have several.. Including one that doesn't even look at the credit score, just the mortgage payment history.. if I have several, I'm sure IL brokers have several as well. You can click "Find a Lender" above and type in your zip code.. This should give you a list of brokers in your area... Good luck.. 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. 480-287-5714 WilliamAcres.com

You are going to have a difficult time, and the rate you will get is not going to be as good as you could get if your score was above 620. I would recommend you work with a Local Mortgage Banker/Broker and see what can be done to improve your score first. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950.

First, how are your mortgage payements? they have to be no lates in the last 12 months... and what date was your discharge date??

for a fha streamline, you can not have any mortgage lates in the last 12 months.. so in order to get your fha thru , that has to be. so when that happens , so will your fico score change for the better.. my email is yourloanpartnerforlife@live.com and I will be able to do your loan then.. linda

You must not have had a late payment within 12 months. I would see this a s an opportunity for you to take the next few months to improve your credit score. When you hit the 12 month no late mark, your score will have improved. Another option would be to streamline into your cosigner's name only. If that person qualifies for the mortgage with just his/her income, you can do what is called a full credit qualifying FHA streamline. A quit claim deed would have to be filed before hand. Best of luck!