Comments on: Can anyone recommend a bank or mortgage company that approves home loans for people with not so good credit?

By: Joseph Sangl

Joseph Sangl — Mon, 12 May 2008 16:12:31 +0000

You will be ripped off if you obtain a home loan with that type of FICO score.

I recommend that you RUN AWAY from signing up for more debt!!! It has not been helping you, and it appears to be really tearing at you.

I made a decision in 2002 to say NO! to more debt and became debt-free in 14 months!!! There is NOTHING like knowing you are debt-free!!!

By: marxistharpist

marxistharpist — Fri, 09 May 2008 19:56:50 +0000

Yeah it’s possible, I have actually done 3 loans below 500 in the past two months, the FHA has changed it to 500 and up recently. The rates I was able to get for people through the FHA were about 2 percent better than the subprime lenders, because there is less risk when it’s government backed. My advice is to find a mortgage broker who can find the best available for your situation.

By: 4everinschool

4everinschool — Fri, 09 May 2008 18:39:44 +0000

First, have you reviewed all 3 credit reports for errors. If no, do so; it takes anywhere from 45-60 days to fix errors or disputes yourself ( debt that’s been paid and you have proof).

Next, try lendingtree.com.
Even if you’re credit is not so great, you may be able to get a decent rate- some company somewhere wants your business. You can compare rates and terms between potential lenders. Usually a response in 24-48hrs.

By: John H

John H — Wed, 07 May 2008 11:24:26 +0000

Try Lending Tree. They will shop around for you and you should get an offer from someone. The interest rate will probably be higher according to your credit rating.

By: Percival

Percival — Tue, 06 May 2008 18:32:45 +0000

Call Countrywide Direct. They are a direct lender, so you will know for sure if you will get your loan. They also have programs for people with credit as low as 500.

By: Angela F

Angela F — Mon, 05 May 2008 06:03:16 +0000

Countrywide has a sister company that works with people who have lower credit scores and usually it is done with a fixed rate also. You could go to countrywide’s website or call them.

By: Sir Hard & Thick

Sir Hard & Thick — Fri, 02 May 2008 15:01:03 +0000

not a lot of lenders are doing sub prime paper right now, and the ones that are, it comes at a cost! you want to check with your bigger company’s!