Score of 601

It is going to be difficult to get favorable pricing with your current score. But more importantly, the reason your score is only 601 is far more likely to impact your ability to even get the refinance approved. Connect with a local Mortgage Professional to help develop a plan to improve your scores. Once your scores are up to the 640+ range, refinancing will be much easier. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

you might want to wait till your score has improved.. most lenders want to see 640 or above.. although there might be a few lenders out there willing to lend with a 601, once you go through the "ringer"... most don't qualify... your better off just working on your credit, and then apply.. 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

Yes, with a 600+ you can get a very competitive FHA fixed rate. Our Fha product goes down to 560 score but rates are higher and only allows rate and term no cash-out between 560-600. If you current mortgage is FNMA or Freddie you can also get a great rate with HARP program. We only lend in New Jersey so contact Contact a North Carolina Broker / Lender that is on Lender411 (find lender tab) and I'm sure they will give you great service.

Yes with a minimum of a 580 you would most likely be able to refinance. That being said the terms will be much more favorable with higher scores. There aren't any options while trying to improve your score, all improvements will need to be complete prior to submission to be safe.

Try FHA.

Technically it is possible with a very small number of lenders to obtain an FHA loan with that very low credit score. You will get a lot of no answers before you get a yes. I suggest taking a bit more time - improve your scores, then apply.