A mortgage loan with low scores?

[Anonymous]

Looking for a company that make loans to people with low credit scores and doesn't require a bank account

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Hello and welcome to the forums.

The thread you found is several years old so I'm going to split your post off to start a new thread. All I've changed is the title. If you want to change it to something else it is possible to edit your own post. To edit your post, go to the post. To the right you'll see "Options." Click on "Options" and select "Edit Message" from the drop-down menu. If you need any help with anything, let me know.

--MarineVietVet, myFICO moderator

[PixieQueen80]

First Guarantee Mortgage Corp is a national company that does loan as low as 580.  The interest is higher since they are taking more risk however if you really want a mortgage it is worth contacting them.  I do not know of any others that go below this but maybe others do and will post.

[mocha82]

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@PixieQueen80 wrote:

First Guarantee Mortgage Corp is a national company that does loan as low as 580.  The interest is higher since they are taking more risk however if you really want a mortgage it is worth contacting them.  I do not know of any others that go below this but maybe others do and will post.

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I have FGMC.  My rate is 4.75.   They use nontraditional credit lines to help boost your credit profile.

[Holly1221]

Embrace Home Loans is 580 but I don't know their checking account requirements.  My FHA rate is 4.25....(not closed YET tho)

[lovemybabiesx2]

Thank you all for posting this!  We have been repairing our credit since July 2011 and have raised it from 496 to 550's so far.  Hubby will be getting medically retired from the Army by this summer and we will be relocating to FL.  I'm an LPN but will finish my RN by March/April so I will stay in the same field of work when we move with an $11/per hour pay increase.  he will receive an Army/VA medical retirement check so not sure how that will affec us for getting mortgage by fall, but it's nice to know we have other lending options as our credit union and bank both requre 620-640 MINIMUM scores to even apply...will keep plugging away at our credit scores in order to continue to improve them! =) Hopefully by fall next year we can have a home for us and our three children!

[PixieQueen80]

Lovemybabiesx2 - You will get there.  Fall is about 9 months away and you are not so far away from the desired score minimum.  If you look at my signature you can see that I made significant progress in a little over a year and I had a judgment, state tax lien and defaulted student loans and medical collections but I was dedicated to getting a house so I worked hard to pay off debt and maintain on time payments.

I have fate that you will reach your goal of a new home in 2012.