There are not a lot of mortgage lenders that offer home loans to borrowers with credit scores below 580. Fortunately, there are some non-prime mortgage lenders that specialize in helping people with bad credit. This includes options for people with credit scores between 500-579 (or even below 500).
Mortgage Lenders for 500-579 Credit Scores
Below are 8 of the top bad credit mortgage lenders that offer programs to borrowers with credit scores between 500-579. These lenders offer what are known as “non-prime loans“.
1.) Citadel Servicing
2.) Angel Oak Mortgage Solutions
3.) Carrington Mortgage Services
4.) Athas Capital
5.) Northstar Funding
6.) A&D Mortgage
7.) ACC Mortgage
8.) HomeBridge Financial
These are 8 of the best mortgage lenders that offer non-prime loans to borrowers with credit scores as low as 500. Some of these lenders also do not require any waiting periods after a bankruptcy, foreclosure, or short sale. This means that you that may be able to get a mortgage immediately after such events.
If you would like some assistance finding a lender, we can help match you with a lender in your location.
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FHA Loans for 500-579 Credit Scores
Can you get an FHA loan with a 500 credit score?
Most FHA lenders require that you have a credit score of 580 or higher in order to get an FHA loan. However, there are some FHA lenders that will work with borrowers with credit scores between 500-579. If you would like to see if you qualify for an FHA loan, we can match you with an FHA lender. To have an FHA lender contact you, fill out this form.
Keep in mind, if your credit score is below 580, you will be required to put 10% down for an FHA loan. If your credit is above 580, you may qualify for a 3.5% down payment.