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Updated about 2 months ago on . Most recent reply

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John Gordon
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Loan options for lower credit scores

John Gordon
Posted

I have a couple of properties that I have my eye on and my credit score is in the low 600s.  My plan is to get it back up to the low 700s as quickly as possible and I don’t want to miss out on these properties.  Are there lenders that focus more on the property than the credit score? The plan would either be to flip it or refi into a long term hold. This isn’t my first flip, just running into road blocks with current lenders and my current score 

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Chris Seveney
  • Investor
  • Virginia
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Chris Seveney
  • Investor
  • Virginia
ModeratorReplied

You need to fix your credit. Focus on that. There potentially are lenders that will go below 680, but you are going to be paying through the nose and most likely have interest rates in the double digits. You will have a very high down payment, which will not make the project or property viable. 

  • Chris Seveney
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