Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 1 decade ago

Where can I get a mortgage loan with a low credit score of 477?

8 Answers

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  • 1 decade ago
    Favorite Answer

    Try this:

    http://www.hud.gov/buying/loans.cfm

    FHA loans are available for some people with difficult financial situations. I can't promise it will work, but it is worth a try. The hard part about FHA loans are that they are usually very picky about the condition of the house in question... basically NO fixer-uppers, or they will require things to be fixed BEFORE approving a loan.

    If you are a veteran you can also try to get a VA (veterans) loan.

    With credit that bad, the only other way you can get into your own home is to have someone you trust (such as a parent or sibling, etc) get it for you. What this means is legally the house would be theirs, the title and deed would be in their name, and they are legally responsible for the loan. The bank doesnt care who lives in the house or whose pocket the house payment comes out of, as long as it is there on time. In this situation, you can try to improve your credit score over a few years time, then try to refinance the house in your name exclusively.

    Good luck, I hope this helps

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  • 1 decade ago

    477 score means you haven't paid anyone. There are no loans with less than a 580 score & even a 580 is a low score. You need to clean up your credit before you even think of buying a home. Even the subprime loans required a 580 score & they are gone now. Sorry!

    Source(s): 22 years mortgage experience.
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  • 1 decade ago

    I don't think you can get a loan but if you e-mail me I can maybe help you get into a house with other options, while repairing your credit.

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  • Anonymous
    1 decade ago

    If you do your interest rate will probably have you cursing

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  • Anonymous
    1 decade ago

    Its just not going to happen, sorry.

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  • Debdeb
    Lv 7
    1 decade ago

    I don't think you're going to find one.

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  • 1 decade ago

    Probably nowhere.

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  • 4 years ago

    Do not think so

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