HAVE A FEW MORE QUESTIONS?
Our Loan Experts Can Help
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Can You Get a FHA Home Loan With Bad Credit?
To qualify for an FHA loan, borrowers only need a credit score of 500 and a 10% down payment. With less down payment a 640 and above score is needed. Call your lender to find out all the details.
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Can I Use My VA Home Loan With Bad Credit?
Borrowers with a FICO score below 580 can still apply to the VA for a home loan. Lenders look at all of your circumstances to determine if a loan is possible and what interest rate may apply.
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Can You Buy A Home With Bad Credit?
Although it’s easier to buy a home with a good credit score, less than perfect scores can often qualify for a home. In many cases a 580 score can purchase a home and a 640 score can qualify for an FHA home loan.
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How Do I Make Better Credit Habits?
You must ensure you’re not still spending more than you can afford each month. You have 2 choices: spend less or earn more. To repair your credit, you must commit to:
- Pay all of your bills on time
- Pay down debt (especially credit card debt)
- Avoid applying for credit
- Learn to live on a budget
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What If There Is a Credit Score Error?
Check over your full credit report. Make sure identity information (Social Security number, spelling of your name and address) is correct. Review the list of credit cards, outstanding debts, and major purchases. If you see any mistakes or questionable items, make a copy of the report and highlight the error. You can dispute inaccuracies on your credit with each of the three credit bureaus.
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Where Can I See What My Credit Reports Show?
Before you begin do-it-yourself credit repair, you’ll want to get copies of your full credit reports from all three bureaus (Experian, TransUnion, and Equifax). These reports are free once every 12 months. Consider getting one every 4 months and rotate through the 3 reporting agencies.
Spire Financial brings lending expertise to you. All of our loan officers offer personalized communication for every client, guiding them through the process. We can show you ways to maximize your finances and unlock future opportunities. Spire Financial keeps you in control of refinancing, debt consolidation, and home equity. Together, we can achieve your financial goals.