Home Loans for Bad Credit Score Borrowers are available through FHA & VA Home Loans.
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FHA Loans, VA Loans, 203k, USDA, Bad credit Home Loans, Conventional, and Jumbo Loans.
*FHA requirements state that borrowers must have a minimum credit score of 580 to qualify for an FHA Loan with 3.5% down. Having a 580 credit score does not guarantee FHA loan approval. A 600 credit score is more likely to qualify for a mortgage. There are many factors that go into qualifying for a mortgage.Home Loans for Bad credit borrowers can make qualifying for a mortgage difficult. They may require manual underwriting. Complete the form on our site to speak to one of our network FHA lenders to see if you qualify for a mortgage.
Do you have lenders that offer bad credit home loans?
Yes. However, the minimum credit score required by FHA is a 580 credit score. If you believe you have a 580 or higher score, complete our simple form here. However, a 600 credit score is more likely to be approved by our lenders. We will have a loan officer from one of the lenders in our network will contact you by phone or email to discuss your options. Your credit will never be pulled unless you authorize the lender to do so.
Will applying for a mortgage lower my credit score?
When a lender pulls your credit is counts as a hard inquiry. Hard inquiries make up a small portion of your credit score, usually your score will only be affected if you have a significant amount of inquires. You also have a 30 day window to have multiple lenders pull your credit and it will only be counted as a single inquiry. Tthis is allowed by the credit bureaus for rate shopping.
What is an FHA Loan?
FHA stands for the Federal Housing Administration. The FHA is a government program designed to help the housing market by insuring loans. FHA will insure the loan in the event the home buyer defaults on the loan. FHA Loans require a 580 credit score, and a low down payment of just 3.5%. Making FHA Loans much easier to qualify than conventional home loans.
The Lenders Network is the first website dedicated to helping people find reputable lenders that offer Home Loans for bad credit home buyers. Read more about the FHA Credit Requirements on the Federal Housing Administration’s website. Not all mortgage companies offer home loans with poor credit, most banks require a 620 to 640 credit score. The Lenders Network has partnered with some of the largest direct FHA Lenders in the country. Our network of FHA Lenders are able to work with borrowers with credit scores in the 580 to 600 range in some cases.
You can download our free DIY Credit repair guide. This guide includes expert tips, secrets & sample dispute letters. We suggest you complete the form and speak to one of our FHA Lenders before assuming you will not qualify due to bad credit. If you do get denied because your credit score is too low, our credit repair guide has some great information you can use to improve your credit score quickly.