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I have a 601 FICO score can I get a home loan. This is also my first house . Are there any programs that I can use

by kimberly.cecnv202 from Las Vegas, Nevada. Feb 27th 2017 Reply


Brad Henderson (bradthelender)
#28 ranked lender in Nevada - 19 contributions

FHA goes down to 580 so there are options but the pricing isn't that great. Home is Possible, the NV grant program for down payments starts at 640. At Nova, we have a department called Credit Services where basically they will assist you to obtain whatever score target you want. The best thing about the service is we charge nothing for it. Give me a call at 702-328-3043 and we can talk through both options so you can make an educated decision on how you want to handle it. Brad

Feb 27th 2017
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The FHA guidelines require a 580 score so as far as credit goes you could qualify for a 3 1/2% down loan. There are other requirements and we be happy to review them with you and approve your loan if you would like to start an application with us. Please do not be fooled by others who suggested it is 620 or 640. Best of luck to you

Feb 27th 2017
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Yes, no problem. You would use FHA and for any assistace with your credit we do all the work in house and to no charge to you.

Feb 27th 2017
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John Burke (jburke)
#30 ranked lender in Texas - 187 contributions

Hi Kimberly,FHA actually goes all the way down to a 500 score "on paper" but most lenders require a 580 or better score. The thing you need to remember is your credit score is just the door opener, there are far more factors that determine whether or not you qualify for a mortgage. You may meet the minimum score requirements & still be denied due to your credit history. I want to make sure you're fully prepared walking in.Please feel free to contact me for more information or help. John Burke - Senior Mortgage Banker - Lending in ALL 50 states - Great Plains National Bank - 877.228.9069 - NMLS# 787231

Feb 28th 2017
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