Guild Mortgage: Best for those with no credit history ; New American Funding: Best for a variety of options ; Rocket Mortgage: Best for an easy online experience
A comprehensive guide to understanding the influence of credit scores on mortgage eligibility and advice on improving your scores.
These mortgage lenders consider borrowers who don't have terrific credit scores.
If you don't have excellent credit, you can still be approved for a mortgage. CNBC Select picks the top options for borrowers with fair credit.
Lender, Credit requirements, Down payment minimum ; Old National Bank, 620 for conventional loans, 600 for FHA loans, 620 for VA loans, Undisclosed ; Veterans United Home Loans, 620 for conventional and VA loans, 3% for conventional loans, 3.5% for FHA loans, none for VA and USDA loans ; New American Funding, 620 for conventional loans, 3% for conventional loans, 3.5% for FHA loans, none for VA and USDA loans ; First Mortgage Direct, 620 for conventional loans, 580 for FHA and VA loans, 3% for conventional loans, 3.5% for FHA loans, none for VA and USDA loans ; U.S. Bank, 620 for conventional loans, 740 for jumbo loans, 5% for conventional loans, 3.5% for FHA loans, none for VA and USDA loans ; Wells Fargo, 620 for conventional loans, 3% for conventional loans, 3.5% for FHA loans, none for VA and USDA loans
By charging borrowers with good credit scores higher fees, those with non-stellar scores will pay less steep fees. Think of it as mortgage socialism.
Enter Home Price $ Enter Down Payment $ % Select Loan Term Expand Improving your credit score before applying for a mortgage is always a good idea so you get the best terms possible. Of...
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Find the best mortgage lenders that accept 500 credit score and work with unique financial situations with our comprehensive guide.