what are my chances with a 550 fico?

Although there are lenders who lend to borrowers with low scores, you need to understand that the lower the score, the more strict the guidelines, and few that apply actually get approved.. FHA will go as low as 500, but most lenders require a 640 or above.. and FHA says If your score is below 580 you need 10% down.. the real question is "WHY?".. Why is the score so low?? BK, Foreclosure, Short Sale, Judgments, Unpaid Tax Liens, Unpaid Student Loans?? even if your score was 750 and you had one of these deficiencies, you might still be denied.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they look at your complete profile they will be able to properly advise you.. if you don't qualify now, they can tell you what steps would be necessary to qualify in the future.. but I caution you.. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Wait for a few months before going after a home. Get a copy of your credit report at www.annualcreditreport.com to see what is on your credit report. This will give you an idea of what is causing the score and what you may want to pay off to increase your credit score. You patience will be rewarded by better credit and cheaper money, if you are disciplined to do so.

We have subprime available at 60% of appraised value, but it is expensive. Call Dave at 503-620-2239.

You might have a chance to get financing even with a 550 fico. Give me a call!425.282.0552

I am a local broker in Kirkland and we have a subprime lender who can go up to 65% of appraised value. Call me at 425-351-5363

I am a local broker in Kirkland and we have a subprime lender who can go up to 65% of appraised value. Call me at 425-351-5363.

There are programs that you might qualify for. I am a Mortgage Advisor in Puyallup. Please call me at 253.732.8233 to discuss your situation