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Low Credit Score |
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My husband and I currently rent but would like to purchase a home. The problem is we have low credit (520 middle score) does that make it absolutely impossible to obtain 100% financing? Would it help to have another co-signer on the loan who has good credit? |
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Nobody is getting 100 % financing these days, even those with great credit scores. Lenders are becoming much more careful. If you had a co-signer, that person would become personally responsible for the whole debt, and even so, I doubt if someone with a score like yours could qualify for a mortgage loan. |
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Edith
Originally published on April 26, 2008 |
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