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Can you get a mortgage with no money down and a credit score of 615?
Wiki User
∙ 15y ago
It's highly unlikely. You may be able to qualify for a HUD loan with little money down.
Wiki User
∙ 15y ago
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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?
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.
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.
Can you get a no money down loan with credit score of 780?
It is highly likely. This is a good credit score.
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?
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.
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.
Can you get a no money down loan with credit score of 780?
It is highly likely. This is a good credit score.
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.
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 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 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.
How much money does a person with bad credit have to put down for a mortgage?
It will all depend on what your credit score is and how bad. If you do have a substantial amount of money to put down on a property your best bet would be to contact a lender and see what you can get qualified for. No matter what amount you do put down, be prepared for a high rate. If you have a substantial amount of money, you may want to work on repairing your credit first.
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.
How can a person get a no money down mortgage if they have bad credit?
This is a very unlikely scenario. Firstly, the individual must attempt to clean up their credit by raising their credit score- or by having a cosigner who is willing to accept all responsibilities of late payments and non-payments.
How does one obtain a no money down mortgage?
A good way to obtain a no money down mortgage is to have excellent credit. You can make appointments to speak someone who could help you with other options as well.
