2006-07-31 08:06:53 · 10 answers · asked by Roc B 1 in Business & Finance ➔ Renting & Real Estate
I would be surprised if you can't. Not that 526 is good or anything. They just like to give money to risky people because they are more likely to default.
2006-07-31 08:10:16 · answer #1 · answered by Anonymous · 0⤊ 0⤋
As long as your middle score is 500 or above you can get a mortgage loan but, at 526, you'd have to put 15% down. This can be in the form of a gift and you may get seller to contribute up to 6% to cover your closing costs.
2006-07-31 09:06:57 · answer #2 · answered by staceydian 2 · 1⤊ 0⤋
probably. thats not a bad score. theres alot to consider other than the score though, one or two incomes? what is the income? what job and time at it? cosigner? you shouldnt have a problem. one thing though with that score. if you inquire frequently into your credit, that looks bad or if you apply for loans from multiple places. you can call any bank or mortgage comp. and ask them to pre-qualify you for a mortgage. they will tell you an estimated amount based on the info they give you. then from there you know what to look into for a house and then take it from there. the interest rates are not so great right now and you may get a higher one, since the credit score isnt on the top of the scale(which makes no sense to then charge you more, i cant figure that one out). call someone and see, its worth a try, its not going to hurt any just to find out what your approved for. although sometimes they approve you for more than you really can get, and usually they approve you for much much more than you really would want. it all sounds good on paper, but in reality you would end up screwed and basically be married to your house. that kind of happened to us, so be careful dont get carried away.
2006-07-31 08:17:49 · answer #3 · answered by loveboatcaptain 5 · 0⤊ 0⤋
You probably can, but watch out for the interest rate. It will be a whopper. You'd be better served by learning how to improve your score. Then after you repair your score look for a home you can truly afford. Many a home that needs some go care can be found at below market prices. By fixing it up and improving it you can get a good price out of it. Don't go for the maximum you can afford.
2006-07-31 08:20:38 · answer #4 · answered by Michael M 1 · 0⤊ 0⤋
Yes you can. Although your interest rate will be a little bit higher. But if you stick it out for a couple of years, your credit will significantly improve and then you can refinance for lower rates.
Message me if you're ready. I'm a loan agent.
2006-07-31 08:10:28 · answer #5 · answered by princess consuela banana hammock 2 · 0⤊ 0⤋
Yes but your APR would be through the roof!
Average CS is 650! Mine 710! My APR still a bit high!
Overall costs would be overwhelming! I recommend working on your credit before making any really large purchase like that!
2006-07-31 08:11:27 · answer #6 · answered by Anonymous · 0⤊ 0⤋
uhmm it's gonna be hard since you're in the poor side - i think there will be someone out there who can finance you a loan maybe... try to buy mobile home first.
2006-07-31 08:10:45 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I don't know what to say
2016-07-27 05:37:29 · answer #8 · answered by ? 3 · 0⤊ 0⤋
depend how much can you afford and how much of a down payment email me at mrseahorse222@yahoo.com
2006-07-31 08:33:24 · answer #9 · answered by mrseahorse 2 · 0⤊ 0⤋
I was wondering much the same thing
2016-08-23 03:16:37 · answer #10 · answered by Anonymous · 0⤊ 0⤋