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Mortgage with 602 / 582 / 581 ?


ryansalazar
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Usually those are the one that service the loan. Most loans are done through a middle man (mortgage pimp), check the Freddie and Fannie website and it may direct you to a company. Beware of the middlemen, if credit scores are on the low end of the lending spectrum they will always try and get the most out of you that they can, High closing costs, fee's, ARM's, the more they can get from you the easier it is to sell to investors at high profits. I am going to wait until this mortgage and real estate meltdown are over and refi at better rates once I get my credit around 700.

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Depending on why your scores are what they are, meaning what's on your report, you, may qualify for an FHA loan, as they don't go strictly off your scores. If you can get your scores to at least 620 then you may be able to qualify for some of Fannie and Freddie's 100% program. Also, Wells Fargo has some excellent portfolio loans for borrowers who can provide full documentation. I would start there. Try to find one of their emerging markets branches.

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