Home Loan Lender for Individuals with 600 or Below Credit

While mortgage credit availability has improved along with the economy, many potential buyers with credit below 600 will still face difficulty qualifying for a loan. If your FICO score is less than 600, it may be difficult for lenders to give you a home loan; but this does not mean you cannot get a mortgage.

People with credit issues can still realize the dream of homeownership. If you can, spend at least six months working on your credit score by paying down debt and trying to get collections accounts removed before you apply for a loan to give you more options and greater savings.

We will likely ask you for written explanations for any negative marks on your credit, such as collections or late payments. Be prepared to explain any financial difficulties you had, particularly if the problems were only temporary, such as divorce or illness.