Home loans with 580 middle score?????

[westo12]

My mid score is 553 and 2 days ago I was verbally pre approved for a $325k FHA mortgage (ugh 6.5% interest) using a report that my direct lender pulled in April when we first decided to see how ugly it was. I've since cleaned up 4-5 other items, had a couple 1 yr anniversaries go by on both goodies and baddies and a couple of collection accounts that MIRACULOUSLY fell off. 

I am PRAYING for at least a 600 so I can qualify for a 6.0% and close in time to take advantage of the tax credit.  Then at least I can do a streamline sometime in early 09.

Now if getting the downpayment together with all of the credit clean up dollars I've spent the last two months would be as easy...

[T50]

Just curious where you live?  Also who approved you for that loan?  Do you have a contact name?  Did you have any baddies on your report in the last 12 months?  How much did they tell you you had to put down?  Thanks for info that gives me hope!!!

[WannaHouse]

USDA loans will accept lower scores as well if your income and area qualifies. You do need strong compaensating factors as well.

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

[twall06]

I applied and was told and approved with a mid 500 scores but decided to wait awhile and get my scores up for a better rate . I can't remember the lender but I had found them on lending tree .

[ezy20004]

Is this still the case?  Im looking for a lender to approve a 600 middle score.  Someone let me know.  Thanks

[beverlyhillsrealestate]

Yes there are a few lenders that offer home loans with a 580 credit score. My clients with lower credit scores I send to thelendersnetwork.com they will be able to help you get pre approved with a 580 score.

[jzsnow]

Is this spam or legit??

[beverlyhillsrealestate]

Yes FHA goes down to 580 scores with the right lender.  FHA is what your going to get if your at a 640 or under all the down to a 580 score. Rate will be a little higher in the 580-620 range.