I applied for a loan with a score of 590. How probable is it for me to get approved? If so what type of interest? My main problem is my utilization percentage that I have been working on. The problem is that I have found a house that I really like. Any suggestions would be appreciated.
Why does everyone tell you to go to the Credit Talk site, but now one replies. I see you looking! I'm new and learning. Can the veteran's please give me some advice?
Please be patient, there's no reason to bump if someone doesn't answer your question in just a few minutes. Everyone is busy too, and maybe no one that's viewed your email has an answer. My husband and I got a mortgage with lower scores than you, 10.99%, Prepayment penalty and had to have a second from day 1. You will get approved by someone! But it might not be at a great rate with great terms. If I had to do it again, I would repair and rebuild first then look for a loan, then look for a house. Just my opinion. Good luck either way.
the more money you have to put down the better your chances of not only getting approved, but at a half-way decent rate. and you can always pay points to get a lower rate. there is a mortgage out there for everyone, but like the last post says, it may not be the terms/rate you like. how much are you looking to put down? and while score is important in the DU portion of an application, it really comes down to what is bringing your score down, ie, unpaid collections, recent bk, etc.
HELLO!!!!!!I am here! I couldn't go to sleep after a long weekend with the folks in town and now I see why...you have a post...and it is unanswered ......I will post an answer so my subconsious will allow me to go to sleep. GENERALLY, 580 credit score gets you 100% financin in one shape or another.......the rate? Varies...I mean there are some "no rent history, bad work history, no savings, no credit lines" borrowers and then there are some that actually get some pretty kewl 97%ltv conforming stuff if your income/area is right and yer loan guy is on the ball. My suggestion? either post all of your dirty laundry and wait for someone to post you a better idea of what they THINK they can do OR contact some lenders and see what they can do. Go into it NOT NEEDING a yes....and just lookign for a barometer of how yer doing..or you will bite on the first crappy yes that comes along. Have fun and good luck...sorry for making you wait......nite all
I appreciate all of you who responded to this post. If you have additional information, please hit me back. I am not as anxious as I was a few days ago. I thought that I only had the weekend to make a move on a house. Thanks again!
