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There is probably no credit union or bank that will approve you when your score is that low. What on earth did you do to have such a horrible credit score? You should be ashamed of yourself.

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โˆ™ 2014-02-17 00:00:22
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Q: Where can I find a mortgage company that will approve a mortgage when I have a 553 credit score?
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Related questions

What effect does a credit score have on a mortgage?

The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.

What is the difference between a mortgage score and a credit score?

Mortgage scores are different from credit scores. Credit scores are assessments of a borrower

If you have a credit score of 604 can you buy a home with this score?

Each mortgage company or bank will have their own requirements. In addition to a credit score, there are other factors such as income. A credit score of 604 may be high enough to get a home with a high interest rate.

Can you get a mortgage with a credit score of 500?

Forget the credit score, before you take out a mortgage you first need to think about if you can make the payments.

Who can I talk to for credit score advice?

The person you would speak to is a mortgage consultant at a mortgage company. You would have to submit your financial information and wait for the mortgage consultant to determine what you are elligable for.

What is the average expected credit score to receive a mortgage loan?

There is not an average expected credit score to receive a mortgage loan. You may have a low credit score, and an high income and still be able to qualify. Loans are not just based on credit score.

How does a persons credit score affect mortgage credit rates?

Actually the better the credit score the better are the offers for a mortgage credit loan. In general the interests offered for a new loan depend (besides others) directly on the credit score.

How much will your credit scores increase after paying off a mortgage?

Your credit score will decrease after paying off your mortgage if everything else remains the same. Our credit score has been decreasing since paying off our mortgage 5 years ago. The suggestions for increasing our credit score were to take out a mortgage or take out a car loan.

How can I get a mortgage with bad credit?

It is very difficult to get a mortgage with bad credit. You will probably first have to raise your credit score.

You want to refinance but your credit score is 500 because I fell behind on mortgage payments But am almost caught up with them Do they have such a thing as refinancing with no credit score being used?

In short, not likely. Almost no mortgage company will give you a loan without checking your credit score. Your best bet is to focus on improving your credit score. They are many ways to do this, some methods that can be done in fairly short period of time.

How does your credit rate effect your mortgage rate?

The higher your credit score, the lower your payments. The lower your credit score, the higher your payments. The analogy above shows how your credit rate affects you mortgage rate.

A credit score is?

Credit score is ranges from 300 to 850. Credit is a evaluation of your credit card bills, mortgage and other loans.

Does paying off your mortgage early affect your credit score?

Yes, it would help your credit score.

Can you get a loan with a 616 credit score?

Most lenders require at least a 640 credit score for a mortgage.

What credit score do you need to get a mortgage?

Currently, it is tough to get a mortgage even with very good credit. 730 is about average so a score close to 800 has a good chance of getting approved.

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 are the current mortgage rates for various credit scores?

This is dependent on other contextual factors such as employment and geographic location, but with an average credit score a mortgage rate can be about 6%. A good credit score will have lower.

How can one qualify for the cheapest mortgage rates?

Having a good credit score is important for getting cheap mortgage rates. One can request their own credit score and show it to potential lenders; this is superior to having lenders request one's credit score, which can affect the score.

Will paying off a mortgage help boost your credit score?

If you have a history of payments made on time and lived up to the betcha! We paid off our mortgage 5 years ago and our credit score has decreased according to the credit bureaus this is due to the fact that we do not have a mortgage. The longer we go without a mortgage (or car loan) the lower our credit score goes. That is because the credit score is based on available credit against what you owe. But having no mortgage is a huge plus when it comes to making a large purchase because what you owe based on your income will be a lower percentage.

Can you get a mortgage with a 581 credit score?


Can you get approved with a credit score of 502 with a mortgage?


How can I get a reversed mortgage on a bad credit score? is a great website to help you find all the information you need concerning your reversed mortgage and bad credit score.

What is the perfect credit score in order to get a home loan?

A "credit score" is one of the major factors that a mortgage lender will review as to whether or not the individual will receive the opportunity to acquire a mortgage/home loan. The minimum/acceptable credit score is 650. 650 will allow the opportunity to a chance of acquiring a mortgage/home loan.

What is the average mortgage rate in Texas?

"The average mortgage rate ranges from 3.2 to 4.1% in Texas, depending on the mortgage company you choose and your current credit score. Also, it may vary with the type and area of property you are looking at."

How can one obtain preapproval for a mortgage be obtained online?

One should first get their bank statements, tax returns, and recent pay stubs together to show proof of income. Ensure that your credit score is as high as it can be; the higher your credit score, the higher the chance you will be approved for a mortgage. Once you have your finances in order, decide on which mortgage companies you are interested in dealing with. Locate the mortgage company websites. Most companies will have an option to apply for your mortgage online.