Can I Qualify for a Home Loan with a Low Credit Score?

The short answer is yes you can qualify for a home loan with a low credit score, but the higher the credit score the lower your interest rate on the loan will be, which will determine which programs you qualify for from a lender and what your monthly payments would be moving forward. If you are looking to refinance a loan to get cash to finance other life events such as settling prior debts or a home remodel and have a low credit score, a lender may require that you have more equity in a home to mitigate any risks they are taking by giving you a loan. With a new mortgage loan, a bank may require at least a 10% down payment on any scores below 580. Symmes Law Group has partnered with Majestic Home Loans to offer various mortgage products including cash out refinance options and new home loans. You can complete a fast track application HERE to learn about what programs you may qualify for and get pre-approved by submitting the following information to the lender for review: If…

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