my credit score is 560, a lender is giving me 6% on FHA loan. is this good?

he also told me that i have to pay about 0 for credit check by FHA. Has anyone ever heard of this?


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2 Responses to “my credit score is 560, a lender is giving me 6% on FHA loan. is this good?”

  1. sad_state_of_affairs says:

    Something is not right. To question $500 for just a credit check is more than unreasonable. If the $500 is the TOTAL loan processing fee that is a more accurate number.

    The interest rate is in line with your credit rating for a 30 year fixed rate loan. You are paying about 1/8 of a percent penalty for not having a higher credit rating

  2. jan vigenski says:

    Can you Please please please tell me what lender will give a mortgage loan with a 560 credit score? We are trying desparately to find a lender to buy a particular home that isnt going to be available before too long if you dont find someone quick! Thank you for your time!

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