Vonita it is important that applicants cannot have more than two 30 days late payments within a two-year period. We are a mortgage bank in California and recently closed a couple loans for borrower's with 580 and 610 Fico score's however they had begun to re-establish their credit the past two years.We need to make sure that you have not had more then two 30 day lates within the past two years and In addition bankruptcies must have a discharged date of at least two years. Furthermore, it is worthwhile remembering that foreclosures must be at least three years old. In both cases, it is worth pointing that mortgage lenders require that homebuyers have begun re-establishing credit and building a good credit history. I would be willing to discuss this with you further if you would like ...I can be reached at (310) 984-0496 or you can fill out a loan prequalificaton online at www.FHASUBMISSIONS.COM

Actually, the credit score is the first factor in determining your ability to obtain a mortgage loan, it's now at a minimum of 620 for qualifying. However, the USDA program doesn't require a minimum credit score, but you'll need to check with a lender in your area to see if they have an investor willing to purchase the loan with a credit score under 620. Otherwise, you may want to check with a financial coach to help you get your credit score up to where it needs to be. A good lender will be able to help guide you in the direction of a reputable financial coach and set you on the path to home ownership. Best wishes & good luck.

We have a loan program that allows you to buy a house with credit scores as low as 540, if you live in NY. Call me and let me help. I believe in the American dream -- a house of your own! Lisa Dudley cell: 845.464.9025 email LD@abc123mortgage.com