Best Answer

Yes, you should be able to. You could possibly qualify for a FHA loan which doesn't put all of the weight of the file on credit scores OR you can look into obtaining a non-conforming loan with a non-conforming lender. Your main stream lenders also offer these type products. Be aware that there is a very good chance that you will have a higher interest rate.

User Avatar

Wiki User

โˆ™ 2006-07-14 00:01:14
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Can you get a mortgage loan with a credit score of 572 with 10 percent down?
Write your answer...
Related questions

Can you get a mortgage to purchace a 395000 condo if you put 30 percent down but have a 577 credit score?

can i get a loan to purchace a 395,000 home if i put 30 percent down but have 577 credit score

Can you get a mortgage with a credit score of 603?

It is possible to get a mortgage with a score of 603. However, the interest rate and down payment terms may be very difficult to manage.

How many points does your credit score go down if you miss a mortgage payment?

A recent late payment can drop your credit score about 60 points.

My Credit score is 764 what rate should I expect to be getting for a home mortgage with no money down or can I even qualify for such a loan?

I have the exact same credit score but with about $10,000 to put down. How did you do?

Can you get approved for a mortgage with a 651 credit score?

Sure, although you may have to come up with a larger down payment than someone with a credit score of 700.

Can you get a mortgage if you have about a 600 FICO score and your wife has around a 650 score?

If your credit score is low, your down payment could be increased to compensate for it. Your credit score, yearly income, past repayment history all factor in to a loan acceptance.

What is the advantage of getting FHA mortgage rate for a home?

The advantage of getting an FHA mortgage rate on one's home is that one does not need a perfect credit score. One is also able to put down a low deposit, sometimes as low as 3 percent.

Can you get a mortgage with no money down and a credit score of 615?

It's highly unlikely. You may be able to qualify for a HUD loan with little money down.

Should you be concerned if your mortgage is not showing up on your credit report?

You should contact you mortgage company. B/C if your paying a mortgage on time your credit score will improve greatly. And it may cause you problems down the road when you want to refi or buy another home.

What can bring down your credit score?

you credit score will go down if you are not paying your monthly bills on time, in order for you to increase your credit score you have to pay your credit bills on time or in full.

Is a credit score of 697 good enough to get a mortgage?

Generally, FHA credit score requirement is 620-640, and 660 for a conventional loan, so yes. The rest depends on your income, debt to income ratio, and down payment.

Does your credit score go down if you are denied a loan?

yes your credit score goes down everytime you apply

Can you get a mortgage with no money down with a credit score of 577?

No, you cannot get a mortgage with 0 down with a credit score that low. Sorry Yes you actually can. Under certain government loan programs you can get a 0 down mortgage with a low credit score. For instance I had a middle score of 525 and applied for a VA loan, which requires 0 down payment. I had to write a letter to the underwriter with a very good explanation as to why my score was so low. The underwriter contacted the VA and learned that they could approve the loan if they felt I had extenuating circumstances and was a good credit risk despite my low scores. I was approved for the loan with a good interist rate. So it can be done it just requires convincing the underwriter you are a good risk. Actually there are several ways that you can. The most popular is using an FHA loan coupled with a DPA (down payment asst. program). The money never needs to be repaid and you can qualify with a score as low as 550. You must verify income though.

Does your credit score go down if you renegotiate a mortgage loan?

Whenever you take a loan out or have someone view it, your score does go down. If you have received your new loan though, you don't care. It should go back to the norm shortly.

Can you get a no money down loan with credit score of 780?

It is highly likely. This is a good credit score.

Where can one download wholesale mortgage rates?

You don't have to download to see any wholesale mortgage rates, but you can check some online from a website called Bank Rate. Enter your state and the city that the property is located in. Add the loan amount you want, the percent down, your credit score, and the fixed product you want.

How much does it cost to refinance a mortgage in California?

The cost to refinance a mortgage in California is going to depend on a variety of factors including down payment, cost of the home, financial credit score, the lending market and rates.

What are some tips to improve my poor credit?

It is important to have a good credit score to obtain important loans such as a mortgage for a new home. Poor credit can be reversed by paying down debt in a timely fashion. More ideas on how to reverse a bad credit score can be found

Does opening a credit card hurt your credit score?

Actually, it does. It uses the available credit you have so when that goes down the credit score does too.

How much interest should I expect on my first home?

The interest on your mortgage loan can vary considerably depending upon your credit and the amount of down payment. If your credit score is bad, the rate can be much higher. However, if your credit score is good, you could end up with a very attractive rate.

What are the advantages of no money down bad credit mortgages?

One might ask, how can one get a no money down bad credit mortgage? If you have bad credit and do not have enough money to put a down payment of a mortgage, you can take advantage of an FHA loan.

Before discharge of a chapter 7 active bankruptcy can you apply for credit or will it affect you bankruptcy?

No legitimate commercial lender will grant you credit while you are in a Chapter 7. Any applications will be turned down and will adversely affect your credit score. The only possible credit situation would be a mortgage restructuring, if you are reaffirming the mortgage, and even then they prefer to wait until you are discharged.

Does your credit score drop at a certain age?

credit score is not based on age but how you handle your credit....handling your credit well and your score goes up.....handle your credit bad, as in having a lot of debt and not paying on time brings your score down.

Will you need a higher down payment to get a mortgage with bad credit?

Yes, a higher down payment is typically needed to get a mortgage with bad credit. A down payment of 25% or more will help to get a lower interest rate.

I want to purchase a home in SC but my credit is not son good. Would you suggest a rent to own or is there anyway I could get a mortgage and get help fixing my credit in less than a year?

There is a company that will clear up your credit in less than a year depending on what is on your credit. If your credit is bad, you will get ripped off on a mortgage. A better option is to rent while you pay off debts, which will rebuild your credit. Once your debt level is down and your on time history has improved, your credit score will go up. Build up a good down payment, and the mortgage rate will be even better.