Mortgage Loan Advice:

Absolutely... you should shop for a Mortgage Broker, Not A Bank. If you click on the tab "Find a Lender", and look at the list of brokers BELOW the map... these are the lenders approved by Lender411. There are loan products out there that can help 600 fico borrowers... but a good broker can help you increase your score, which will help you qualify for the lower rates... WilliamAcres.com

The quick answer is YES, it is possible... but your 600 credit score is going to limit your options dramatically. You would probably be better served to work on improving your credit first. A score over 640 is your goal. In the mean time, contact a local mortgage broker, give them a full application, and let them review your personal situation.

If you're in Cook county, FHA would be your best option. As several have mentioned, raising your mid-FICO score to the 640 level would allow you to qualify for the best FHA insured home loan rates. Although some mortgage companies can lend based on a lower mid-FICO score, the home loan rate is generally not as favorable. If you wish to discuss your personal situation in more depth, give my team a call as we are very fluent in the entire Chicago land market. 219-662-0166 x21