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Can any lender approve a loan for a credit score under 600

by dnwill5121 from La Vista, Nebraska. 19 days ago Reply


Sean Stephens (metroplexmortgageservices@yahoo.com)
#2 ranked lender in Florida - 6 contributions

Dnwill, yes there are lender who can approve a loan for a credit score under 600.i have approved a loan of 450 credit score and she got her funds.you can contact me on: goldsten lending at gmail dot com.goldstenlending@gmail.com for your loan approval and funding.

19 days ago
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Sara Deere (SARAinMO)
#1 ranked lender in Kansas - 504 contributions

I agree! There are a couple lenders including LeaderOne that has loan programs available for mid FICO scores under 600.

19 days ago
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

More info needed, but the short answer is yes.. there are programs which allow for financing if your credit score is under 600.. but understand that 300 is under 600 and you wont get financing if your score is 300.. Also understand that it takes more than a credit score to obtain financing.. Foreclosure? BK? Shot Sale? Unpaid Judgement? Collections? etc, etc, etc.. you could have a 760 credit score, yet with one of these credit deficiencies, you still might be denied.. For this reason, I suggest you put aside the keyboard, and pick up the phone and contact a mortgage banker/broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with a Banker/Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the banker/broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the big box banks. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

18 days ago
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,524 contributions

Yes, no, and maybe... Once your score gets below 640, the chances of approval go down dramatically. The further below 640, the worse your chances. We offer loans below 600 credit score, but understand that credit score alone does not make for an approval. Very few files I run below 600 ever get approved unless you have a big fat down payment, but you just might be one of the lucky ones if you are strong in all other areas. Don't get your hopes up, but always worth a try. Contact a local mortgage broker in your area, give them a full application, and see what happens.

18 days ago
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