topic Home loans in Mortgage Loans

Home loans

Anonymous — Thu, 14 Mar 2013 00:18:32 GMT

Can I get a home loan with a fico score of 580?

Re: Home loans

Anonymous — Thu, 14 Mar 2013 00:30:57 GMT

Its possible very unlikely going the traditonal way.

You could look into the NACA program as your scores are not a determining factor for approval. But be warned it is not a quick process, will take you between 6 months to 2 years for approval. If you can deal with their programs it is actually a great way to purchase a home, especially when your credit is poor.

Re: Home loans

boomhower — Thu, 14 Mar 2013 01:03:07 GMT

It in part depends on why your score is a 580. Unless they've changed sine I last looked Wells Fargo will still do a 580 FHA loan. The other requirements are stiffer that higher scores and DP% is also higher. It's not an easy process but any means.

Re: Home loans

Anonymous — Thu, 14 Mar 2013 04:40:14 GMT

I was also thinking for these but my score is only 500 but someone told me that they do not give loan on such low score, so please guide me