Help !!

Mark, you are correct about rural housing having a lower down payment; it's actually a no down payment loan. Unfortunately, you'll probably be told you need a 640 score for that. You could still potentially qualify for an FHA loan, or a VA loan if you served in the military. You'll find a lot of banks and credit unions will also look for a 640 credit score for these loans, too, but these programs do not actually have a score requirement. I've gotten several FHA loans done with a 620 score, though, and some with lower scores. Your best bet is to seek out a local mortgage broker in your area; because a broker works with several banks and lenders, they'll know the best place to get your loan done with the least amount of headache. You'll find your best brokers are right here in this forum; use the "Find a Lender" link above and look for someone in your area. Best of luck to you!

There are lenders out there that will do FHA down to 580, so you can probably find someone, as far as USDA, that's a conventional product and requires higher credit scores. But keep in mind that a decent credit score is just one of the many things a lender will look at.. Income, debt, number of credit references, etc.. if you really want to know for sure, you need to get with a lender... the credit "Hit", your referring to will be minimal, and a good lender can help you improve your score almost immediately, so The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet 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. 480-287-5714 WilliamAcres.com

We've all heard it before. Having someone pull your credit will reduce your credit score. Sadly, many people end up making some poor decisions based on half truths, and bad information. The fear of reduced credit scores with the occasional pull from a creditor is the most annoying, misleading, and misunderstood thing I hear every week in the mortgage business. If you are worried about "inquiries on your report", this isn't the concern most people think it is. For 95% of all people, having an inquiry on your credit report is absolutely nothing to worry about. Real this great article to learn why is is not a problem at http://tinyurl.com/7a6jc5j

i have been a credit underwriter .. send me your credit report if you want to yourloanpartnerforlife@live.com maybe there is something that we can raise your fico ... linda what price of a home are you looking at ??

In order to properly advise you a copy of your credit profile must be reviewed. I general unless you are shopping all over the place, the single pull by a Mortgage Professional WILL NOT hurt your score. You need to stop guessing and meet with a local Mortgage Banker/Broker. Don't mess with the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, He/She is trained to take a look at the various different options available to you and guide you into the steps you need to take to improve you scores or to take advantage of programs that allow for lower scores. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950