Is it possible to get a mortgage now bad credit or less than perfect? What if u have less than 3.5%?

Deal Score0

approximately 100,000 homes

4 Comments
  1. Reply
    Stephen T
    February 20, 2011 at 2:47 am

    Can you expand on your credit and the price of the house you’re looking at and I can try and help you out.

    Thanks. If you are looking for a traditional loan 3.5% will not be enough for a down payment. There are other options such as FHA or USDA government loans that you can ask a mortgage agent about. A credit score of anything under a 650 will be tossed right away in this market. Remember not to spend more than 30% of your gross income on housing/insurance/property taxes.

  2. Reply
    smooch
    February 20, 2011 at 3:29 am

    You should have 20% down and fixed rate 15 yr loan.

    Dont buy a home if you are broke

  3. Reply
    Robert
    February 20, 2011 at 4:18 am

    No matter what your credit history is like, you should be able to get a mortgage. You can get a bad credit mortgage which isn’t hard to get, best option is to shop around or take some professional advice to ensure you get the best deal. High interest rates depends on lenders for a bad credit mortgage.

  4. Reply
    Jaydon F
    February 20, 2011 at 5:10 am

    Given that your poor credit score might be caused due to something accidental and unexpected, like misreported bank finance charge, your first logical step should be to review your credit report and fix whatever is possible as this can really help in broadening your options for personal loans in the future.

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