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Ileana, you may have already done this but talking to a qualified mortgage representative is your best option. Actually you would like to talk to a few. Educate yourself on the types of mortgages and the types of mortgage people out there. Not all are the same. A good mortgage person can even assist you with how to increase your credit score without having to pay someone else for this service. Good luck.
We have programs that can get you approved with a score as low as 540, but you would need to put 10% down. If you have at least a 580 score, which you do we do have programs that you can get 96.5% financing. Call us for details on all of our programs.
If You get a loan it will be with a higher interest rate and some points..... Check and see if you can improve you score by eliminating some items or consolidating a few bills, like college loans.There are groups that just do that ! Good luck !
Ileana, no one is going to give you a mortgage with that score. Your score indicates a problem with paying your bills on time. Go to your local nonprofit housing group for credit counseling. The credit counselor will tell you what you are doing wrong and what you should be doing. Listen to them and your score will go up. When you are at 640 , you can think of house hunting. At that time you can contact me for a preapproval.
You should be able to qualify with that score.!