What mortgage company would approve a credit score of 597 home loan?

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My husband and I are busting our hump trying to get your score, but none of us do not want a small loan to help establish credit. So there is a company that gives us 597 credit score? nothing is left in its report that has not borne fruit, with the exception of hospital bills.

  1. Reply
    Common Sense
    January 28, 2011 at 10:47 pm

    No way, no how. Still FAR too low.

  2. Reply
    Melissa Hanks
    January 28, 2011 at 11:24 pm

    There are a few mortgage companies that will give you an FHA loan with a credit score of 580 or above as long as you have a 12 month rental history. I also would suggest some ways to bring your credit up, the minimum score for the average company is 620. That is not too far off from where you are at currently. A mortgage person could suggest some ways to increase your credit score based on your credit profile. A small loan may not be the best way to go. You could also get a secured credit card and use that ( never use more than 49% of your available balance ) to help build your credit. But without looking at your credit report, I can’t say if that is the best way for you to go. Also just as a side not Mortgage lenders look also at your open credit accounts to determine if you are eligible for a mortgage, not having any accounts may hinder you ability to get financing as well, depending on your location and the type of loan. My suggestion is to get with a trusted mortgage person and have them help you.

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