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http://uk.answers.yahoo.
and the first gentleman stated that I can have my ...
Ryan
How can I get a mortgage with a 480 credit score?
I have an average 480 credit score but a local lender told me I needed at least a 580 to qualify for a FHA loan (1st time buyer/low down pmt). My boyfriend (co-borrower) has a 700+ credit score and they still wouldn't loan us the money. Our income is decent and I have started cleaning up my deliquent accounts, what can I do to get into a house now?
Look for a mortgage lender that does manual underwriting. They'll verify that you pay bills on time and have a job.
I wouldn't get one unless you have a 3-6month savings for emergency, at least 20% down payment and you have current debt payed off.
kissthemforme
Don't! Wait until you have cleaned up your credit and have at least $15,000 in savings! You will save a small fortune in interest if you do. Good luck.
Jordan
you can work on getting a better credit score which will take many years or you could have your boyfriend buy the house himself which is rreally risky for him. you kinda screwed yourself. credit is very important for buying a house and when you have really bad credit like you do the chances of you owning your own house are slim to none
Gold_n_Silver
It might matter that you aren't married. It might matter what your income is and where you are employed. There are other things, but I suggest you seek another lender. Request the reason in writing so that you can move in the right direction. You might need a co-signer. That's all I can think of.
Josh Q
480 is way too low for mortgage...
You can use credit repair agency to fix your credit - for example this one - http://creditreport.fateback.com - They can clean lots of bad stuff from your credit report - and do it much faster than yourself, so your credit will go up fast.
After credit repair you can get the loan with minimal interest rate.
Heather L
I completely agree with kissthemforme.....My husband and I have just gotten our credit back up in the low 600's but we still need more in savings. The market is great for buyers but you still have time! Be patient it will happen....Good luck!
Michelle J
Really doesn't sound like buying a home is a good idea for you right now. Even if you CAN get a loan, the interest rate will be through the roof. I would suggest renting for a while until you can get your credit cleaned up. Or, let your boyfriend buy the house by himself. Don't bother co-signing, because it won't matter - if your name is anywhere on the loan you're basically screwed.
src50
A 480 just about rules you out. You'll have to do some credit rebuilding first.
Debt Guru
You should not get one until your score is at least 620. For information and great credit improvement tips, check here: http://www.bills.com/credit/.
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