Loans out there?

FHA loans are good for 3.5% down. Some lenders require a 620 mid score though. see if you can work with a credit company to raise that score.

Yes, but I don't advise going that route just yet. Although there are a couple of investors that will go down to a FICO as low as 580, the added pricing premiums don't make them a wise choice. Start with a local Mortgage Banker/Broker and find out what additional steps you can take to get your score up to 620-640. It is here that you will begin to see much better FHA pricing. Until you work with someone who can tell you what additional steps you need to take, you will pay way too much for a mortgage. Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

There are lenders out there that will go down to even 500 credit scores, however the guidelines are very strict, and few qualify.. With a 586 credit score, there's work to be done... I suggest you contact a LOCAL mortgage broker and apply with them.. Not the local "Big" bank and certainly not one of those 50 states internet lenders... Even though you won't qualify now, he can put you in a position to qualify in the future by giving you a plan.. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. 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

Generally speaking, you will not have any luck with a 586 score and 3.5% down. Once your score is over 600, you'll find a lender or two. Once you get over 620, you'll find a lot more lenders, and once you get over 640 - pretty much every lender will play. Remember, credit scores are only one portion of loan approval. You can have a good score and still be denied.

Contact us!www.mrloanapproval.comThank You!

IT IS best to get your score at least to 600 and better.. The rate and the availablity for you to get a loan, is a lot higher.. Were you current on your mortgage payments before you sold your home ? every mortgage late is 39 points on the score.. so if this was the case, you need to look at the last payment on your home, and after one yr from that date, your score can start rising.. if you need help on what else to do, you can email me at yourloanpartnerforlife@live.com

Yes, we have a lender that will go below 580, which is the breaking point with 3.50% down. Anything under 580 requires 10% down. The rates are in the 4.75% range, so all things considered it's not that bad. It is a lot of paperwork to close it, so our first step is to look at the credit to see what it would take to get the scores up to make it less stressful for you. You can contact me at 713-569-0025 or send me an email: Mary.Papageorge1@gmail.com -- thanks! Mary