Special offer

Blemished Credit? A 580 Score May Get You Into a Home Today!

By
Mortgage and Lending with Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 NMLS ID# 158606

The across the board minimum for most mortgage companies is a 640 middle credit score.  Now, at Cherry Creek Mortgage, we have the ability to approve FHA loans down to a credit score of 580.  Earth shattering?  Not really, but huge?  You bet!  This is something that takes a lot of borderline buyers and puts them in the position to buy a home today. 

If you're worried about your ability to buy because you're not sure if your credit is good enough, now may be the time to re-examine your situation.  Give me a call....options pervail!

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Comments(5)

Beth and Richard Witt
New York, NY
The best Retired Brokers !!!!

Sounds like a good thing for those with poor credit! Thanks for the share!

Sep 09, 2013 01:03 AM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Larry -- good information to get out to the people who are in that 580-640 credit range.  Hope the MI doesn't frustrate too many of them.

Sep 09, 2013 02:33 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Larry:  Yes, this can be done.  For those that are willing to absorb the interest rate and price of buying with lower scores, it is an option to consider ...

Gene

Sep 09, 2013 02:49 AM
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Larry,

That's great news!

There is also a message here, the same program can have diffrent standards from different sources!

Bill

Sep 09, 2013 03:37 AM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

Bill...thanks for reaching out.  There are no price hits with this program.

Sep 09, 2013 04:58 AM