Can you get approved for a mortgage loan with a credit score of 427?

Answer 1

You can, but not with any conventional bank, you can get what is known as a hard money loan with a private lender but the maximum ltv will be about 70% so you'd have to come up with a 30% down payment and the rates will be very high anywhere from 11-15%. So naturally I wouldn't recommend doing so and would recommend looking into rebuilding your credit and finding a reputable credit remediation program. You may be able to qualify for a FHA loan. FHA is not score driven, however, it is dependant upon your credit worthiness. Two years employment history within the same line of work, no judgements, and collections may be overlooked depending on the severity, number and aggregate amount. DTI ratios 31/43. You may be able to qualify for a FHA loan. FHA is not score driven, however, it is dependant upon your credit worthiness. Two years employment history within the same line of work, no judgements, and collections may be overlooked depending on the severity, number and aggregate amount. DTI ratios 31/43.