Mortgage with Poor Credit but significant down payment

There may be private lenders who can help you get financing, but will come with a higher interest rate and less favorable terms. Make sure you are aware of the terms of the loan if using a "hard money" lender.

I help borrowers with credit issues all the time. We can go down to 600 and if he is close to that I can tell you what he will need to do to get his score up quickly. I help people who have been declined all the time. You can reach me at 281.923.6956 or email me at rick@hopetreehomeloans.comRick CarrierHopetree Home Loans

Hi Leslie, In your situation with your situation there are definitely options. If you are willing to put 20% down and your Husband has otherwise clean credit for the past 12 months you may be able to get a loan if his FICO score s 600 or more. We are a direct lender and as a result we can work with some of your credit challenges. Feel Free to contact our office at 936-228-1944 and I'd be delighted to discuss your options with you. Henry Daniels Sr Mortgage Adviser.

Your traditional lenders will not offer a loan, regardless of the down payment size with poor credit. You may be able to find a private lender (also known as a hard money lender) who will lend for a few years with a big down payment. It won't be the best of terms, but they will usually lend long enough for you to rebuild credit and get a traditional loan in a few years.

On FHA we go down to a 580 credit score. We also offer a private loan that goes down to 500 with at least 20% down. Call us to discuss, 800 315 8803 - Jamie Lynne, Lending Nationwide Since 1989

Pretty much all mortgages today are sold on the open market, and in order for those loans to be "Sellable".. they have to conform to certain guidelines.. minimum credit score is one of those guidelines.. How much you put down, and how much you have left over for reserves are good compensating factors, however it's not what a lending decision is made on.. it's how you pay your bills.. That being said, FHA allows for a maximum loan of $272,550, but that's going to change here real soon.. With FHA, there is no minimum credit scores, they only say that if your score is below 580, then you need a minimum of 10% down.. but keep in mind that FHA does not lend money, they only insure loans against default.. the lenders, or those with the $$$ will oftentimes have their own set of rules above and beyond FHA.. it's these "overlays" that require minimum credit scores.. without knowing what your husbands scores actually are, it's hard to say if you can get a loan or not, so if you want to know for sure, then the best advice I can give you is to 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

Sure I can do loans in Texas .. www.firstfloridafin.com 954 558 4430