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Can I get a conventional loan with under 600 credit without putting 20% down?

My credit is 588 and I cannot afford to make a large down payment by AMann_722_859 from Fort Mill, South Carolina. Sep 13th 2012 Reply


Jeremy Redlinger (JeremyR)
#30 ranked lender in Minnesota - 191 contributions

It is possible however you have a better chance at obtaining an FHA loan with a lower interest rate.

Sep 13th 2012
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

Your going to be hard pressed to find what you are lokking for. Your best option is to find a lender who will go down to 580 on an FHA mortgage. Best Of Luck!

Sep 13th 2012
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Travis Torcoletti (travis.torcoletti)
#0 ranked lender in South Carolina - 372 contributions

Not going to be able to do conventional with a 588 but we can look at FHA with 5% down. Also, if you want me to help you get your credit score up I'd be happy to take a look at it with you and see what can be done to boost it. Give me a call at (803) 381-5149 and we can run through it together.

Sep 13th 2012
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Todd Glassman (Todd Glassman)
#1 ranked lender in South Carolina - 120 contributions

We can possibly do a FHA loan with 5% down. It depends on length on job, trade lines on credit or alternative credit history for the last12 months.

Sep 13th 2012
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